Anton Man Hupfauf & Wing Man Hupfauf Acquire Multifamily Property In Monrovia For $1.44M

A multifamily property located at 244 W. Walnut Ave. in Monrovia has been sold in a closed transaction. The property consists of 4 units with a total square footage of 2,799. The sale price for this transaction was $1,441,440, resulting in a price per unit of $360,360. The price per square foot stands at $514, with a gross rent multiplier of 20.10x and a capitalization rate of 3.12%. The property was sold with deferred maintenance and very low rents.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,441,440
• Units: 4
• Price per Unit: $360,360
• Square Footage: 2,799
• Price per Square Foot: $514
• Gross Rent Multiplier: 20.10x
• Capitalization Rate: 3.12%

The buyers in this transaction are Anton Man Hupfauf and Wing Man Hupfauf, while the sellers are Eric Otte and Cheryl Otte. The deal was facilitated by the Marcus & Millichap LAAA Team, represented by brokers Michael McNulty Jr., Filip Niculete, and Glen Scher.

A note from the LAAA Team mentions that the sellers are exchanging into out-of-state apartments. No additional information is available regarding the deal participants or any other involved parties.