Jon Stein Purchases Multifamily Property From Gary Mobley In Los Angeles For $1.875M

The property asset involved in the transaction is a multifamily building located at 2372 South Beverly Glen Boulevard in the Los Angeles market. The deal was completed for a price of $1,875,000, featuring a total of 8 units and encompassing a square footage of 6,284. The price per unit amounts to $234,375, while the price per square foot is recorded at $298. The gross rent multiplier (GRM) is 12.93, and the capitalization rate (CAP) is 4.93%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,875,000
• Units: 8
• Square Footage: 6,284
• Price per Unit: $234,375
• Price per Square Foot: $298
• Gross Rent Multiplier: 12.93
• Capitalization Rate: 4.93%
• Buyer: Jon Stein
• Seller: Gary Mobley
• Brokers: Michael Monempour & David Saghian - Lyon Stahl Investment Real Estate

The transaction involved Jon Stein as the buyer and Gary Mobley as the seller. The brokerage services were provided by Michael Monempour and David Saghian, who represented the parties in the deal through Lyon Stahl Investment Real Estate.