MBI Equity Partners Acquires Grevillea Apartments Multifamily Property In Lawndale For $6M

The transaction involves the sale of Grevillea Apartments, a fully occupied multifamily property consisting of 24 units located at 17226-17304 Grevillea Avenue in Lawndale, California. The sale price was $6,000,000, resulting in a price per unit of $250,000. The asset, built in 1979, was sold at a cap rate of 5.28% following multiple competitive offers, reflecting strong investor interest in the property market along the 405 corridor.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Units: 24
• Price Per Unit: $250,000
• Cap Rate: 5.28%
• Buyer: MBI Equity Partners
• Broker: Steffan Braunlich - Berkadia
• Market: Lawndale, CA

Steffan Braunlich, Managing Director at Berkadia, represented the seller in this transaction, showcasing the firm's capabilities in handling competitive sales within the multifamily sector. The successful deal highlights the high demand for value-add multifamily properties in this region.