Nova Student Housing Acquires Multifamily Property In USC/Downtown LA For $3M

Located at 2620 Magnolia Avenue in the USC/Downtown LA market, this multifamily property was recently sold in a closed transaction. The property consists of 12 bedrooms and is primarily used as USC student housing. Spanning 4,185 square feet, the property was sold for a total price of $3,000,000, resulting in a price per square foot of $716.85. The buyer in this transaction was Nova Student Housing, while the seller was Maaxtri LLC. The deal was facilitated by broker Davis Saadian.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,000,000
• Square Feet: 4,185
• Price Per Square Foot: $716.85
• Units: 12 bedrooms
• Buyer: Nova Student Housing
• Seller: Maaxtri LLC
• Brokers: Davis Saadian

The involvement of Davis Saadian, representing the buyer and seller in this deal, highlights the importance of broker representation in real estate transactions. Davis Saadian played a crucial role in facilitating the successful sale of this USC student housing property, ensuring a smooth and profitable transaction for both parties involved.