Swami International Purchases Lawndale Multifamily Asset From Anita Oakley For $3.19M

The asset involved in this transaction is a multifamily property located at 14530 Freeman Avenue in Lawndale. The sale price of the property was $3,190,000. The property consists of 10 units, encompassing a total square footage of 12,800, resulting in a price per unit of $319,000 and a price per square foot of $249.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,190,000
• Units: 10
• Square Footage: 12,800
• Price Per Unit: $319,000
• Price Per Square Foot: $249
• Buyer: Swami International
• Seller: Anita Oakley
• Buyer's Representative: Kevin Kawaoka, - NAI Global

The deal involved key insights from Kevin Kawaoka, who highlighted challenges related to insurance compliance. During the closing process, a credit was secured for the buyer to upgrade the electrical panel. Additionally, the roof replacement requirement was addressed through negotiations. The buyer intends to renovate the units to align rents with market rates. The seller successfully completed a 1031 exchange, meeting their investment objectives.