Tino Recendez Purchases Multifamily Asset In Los Angeles For $2 Million With The James Group As Buyer's Rep

The property asset involved in the transaction is a multifamily building located at 1406 South Gramercy Place in Los Angeles. The sale price was $2,000,000, comprising 14 units with a total square footage of 10,566. The price per unit amounted to $142,857, while the price per square foot was recorded at $189. The Gross Rent Multiplier (GRM) stands at 9.08 and the capitalization rate (CAP) is 6.57%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,000,000
• Units: 14
• Square Footage: 10,566
• Price Per Unit: $142,857
• Price Per Square Foot: $189
• Gross Rent Multiplier: 9.08
• Capitalization Rate: 6.57%
• Buyer: Tino Recendez
• Seller: Gus Zinellis
• Buyer’s Representative: William James & Peter James - The James Group - Lyon Stahl Investment Real Estate
• Seller’s Representative: Yigal Fatirian - Lyon Stahl Investment Real Estate

The key individuals involved in this transaction include the buyer Tino Recendez and the seller Gus Zinellis. The transaction was facilitated by William James and Peter James from The James Group, who represented the buyer, alongside Yigal Fatirian representing the seller from Lyon Stahl Investment Real Estate.