Randy Sarmiento Acquires Multifamily Property In Los Angeles For $1.54M

The multifamily property located at 216 North Normandie Avenue in Los Angeles was sold for $1,535,888. The property consists of 6 units with a total square footage of 4,156. The price per unit equated to $255,981, and the price per square foot was $370. The sale also yielded a capitalization rate of 4.54% and a gross rent multiplier of 13.48.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,535,888
• Units: 6
• Square Footage: 4,156
• Price Per Unit: $255,981
• Price Per Square Foot: $370
• Cap Rate: 4.54%
• Gross Rent Multiplier: 13.48
• Address: 216 North Normandie Avenue
• Market: Los Angeles

Randy Sarmiento acquired the property from Jose Chavez in the transaction. The buyer was represented by Kirk Garibia from Berkshire Hathaway Homeservices California Properties. On the seller's side, Yana Vlady from Marcus & Millichap and Nicole Lu from Maher Commercial Realty facilitated the sale.