Josh Luchs Of Kidder Mathews Brokers $9.23M Off-Market Sale Of Two Los Feliz Multifamily Assets

The transaction involved two multifamily assets located at 2028-2030 Rodney Drive and 2040 Rodney Drive in Los Angeles. The total sale price for the properties was $9,225,000, which includes 41 units, equating to a price per unit of $225,000. The first asset, 2028-2030 Rodney Drive, consists of 12 units and sold for $4.13 million, while the second asset, 2040 Rodney Drive, consists of 29 units and sold for $5.1 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,225,000
• Units: 41
• Price Per Unit: $225,000
• Broker: Josh Luchs - Kidder Mathews

This transaction marked the end of over 75 years of family ownership of the properties. Both buyers are responsible for all closing costs and have plans for full renovations, indicating strong interest in value-add opportunities within prime Los Angeles submarkets.