Jon Rawson And Robert Kellner Of Avenue Realty Group Broker $4.04 Million Multifamily Sale In Los Angeles

A multifamily property located at 1984 Park Grove Avenue in Los Angeles has been sold for $4,040,000. This 26-unit asset exhibits strong upside potential, with a current Gross Rent Multiplier (GRM) of 8.22 and a capitalization rate of 8.02%. Additionally, there are opportunities for Accessory Dwelling Unit (ADU) conversions that could enhance rental income.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,040,000
• Units: 26
• Price Per Unit: $155,385
• Market: Los Angeles

Jon Rawson and Robert Kellner of Avenue Realty Group were the brokers responsible for this transaction, facilitating the sale of the property situated near USC. Their expertise contributed to highlighting the investment potential and opportunities available within the property.