LAPIG LLC Acquires Montrose Multifamily For $1.85M

The multifamily property at 2310 Montrose Ave in Montrose has been sold for $1,850,000. The property spans 5,156 square feet, resulting in a price per square foot of $358.81. There are a total of 5 units in the building, with a price per unit of $370,000. The capitalization rate for this transaction is 3.58% and the gross rent multiplier is 17.42.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,850,000
• Square Footage: 5,156
• Price Per Square Foot: $358.81
• Number of Units: 5
• Price Per Unit: $370,000
• Capitalization Rate: 3.58%
• Gross Rent Multiplier: 17.42

The seller of the property was the Silvia Ong Trust, while the buyer was LAPIG LLC. The seller was represented by Filip Niculete, Glen Scher, and Rick Ramirez. David Nalbandyan acted as the buyer's representative in this transaction.