Shay Asghar Purchases Multifamily Asset From Joe Benard In Los Angeles For $1.35M

The property asset involved in this transaction is a multifamily building located at 1900 North Normandie Avenue in Los Angeles. The sale price was $1,350,000 for a total of 2 units, resulting in a price per unit of $675,000. The building comprises a total square footage of 2,970, which equates to a price per square foot of $454.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,350,000
• Units: 2
• Price Per Unit: $675,000
• Total Square Footage: 2,970
• Price Per Square Foot: $454
• Buyer: Shay Asghar
• Seller: Joe Benard
• Broker: Nathan Shaolian - Kidder Mathews
• Market: Los Angeles
• Note: 11 initial offers; sold for $150,000 above asking price; part of a 3-Property Portfolio.

The key individuals involved in the deal are buyer Shay Asghar and seller Joe Benard, with Nathan Shaolian of Kidder Mathews representing the broker in the transaction. The broker had noted significant interest in the property, receiving multiple offers, which contributed to the final transaction price being considerably above the initial asking price.