Hooman Nissani Acquires Multifamily Asset On Malcolm Avenue From Troupe Family For $3.4M

This multifamily building, located at 1906 Malcolm Avenue in Los Angeles, was sold for $3,400,000. The property comprises 8 units with a total square footage of 6,151. The price per unit stands at $425,000, while the price per square foot is $552.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,400,000
• Units: 8
• Price Per Unit: $425,000
• Square Footage: 6,151
• Price Per Square Foot: $552
• Cap Rate: 4.7%
• Gross Rent Multiplier: 13.17
• Buyer: Hooman Nissani
• Seller: Troupe Family
• Buyer's Representative: Oron Maher - Maher Commercial Realty
• Seller's Representative: Nick Peters - Engel & Volkers LA South Bay
• Location: Westwood, a high-demand neighborhood in Los Angeles
• Parking Spaces: 15
• Average Tenancy: 5 years

Maher Commercial Realty represented the seller in this transaction and successfully managed a multiple offer situation, illustrating the competitive nature of the Los Angeles multifamily market. The building features a mix of 4 two-bedroom/two-bath units and 4 one-bedroom units, demonstrating its appeal as an investment opportunity.