John Stein Acquires Multifamily Property From Dwayne Livingston For $2 Million In Los Angeles

The property asset involved in this transaction is a multifamily building located at 1511 Corinth Avenue in the Los Angeles market. The sale was completed for a transaction amount of $2,000,000. The building consists of 8 units, resulting in a price per unit of $250,000. The total square footage of the property is 6,269, leading to a price per square foot of $319.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,000,000
• Units: 8
• Price Per Unit: $250,000
• Total Square Footage: 6,269
• Price Per Square Foot: $319
• Buyer: John Stein
• Seller: Dwayne Livingston
• Broker: Michael Monempour - Lyon Stahl Investment Real Estate

This transaction highlights the involvement of key individuals, with Michael Monempour representing the broker side of the deal. Notably, the property sold at $250,000 per unit and $319 per square foot, showcasing that it had a 10.62 GRM and a 5.42% CAP rate. This marks the 13th property that Michael Monempour has sold in West LA over the last calendar year, indicating his strong presence in the submarket.