Josh Markowitz & Jason Jaffe Acquire Multifamily Property At 2495 South Barrington Avenue For $2.125M

Josh Markowitz and Jason Jaffe acquired 2495 South Barrington Avenue, a nine-unit multifamily property in Los Angeles, for $2.125 million. The property spans 7,593 square feet, leading to a price per unit of approximately $236,111 and a price per square foot of $279. The asset entails a mix of eight two-bedroom units and one one-bedroom unit, and it traded at an 8.25x GRM with a 5.6% cap rate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,125,000
• Units: 9
• Square Footage: 7,593
• Price Per Unit: $236,111
• Price Per Square Foot: $279
• Buyer: Josh Markowitz & Jason Jaffe
• Seller: Kathryn Holmes

In this transaction, the new owners, Josh Markowitz and Jason Jaffe, project a 7.6% cap rate within the first year through planned capital improvements and normalization of operating expenses.