Phil Lin Acquires USC Student Housing Investment On Kenwood Avenue For $1.125M

2706 Kenwood Avenue, a multifamily property, was recently sold in a closed transaction for $1,125,000. The property spans 2,648 square feet and was sold at a price per square foot of $430. This transaction yielded a cap rate of 5.5% and a gross rent multiplier (GRM) of 15.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,125,000
• Square Footage: 2,648
• Price per Square Foot: $430
• Cap Rate: 5.5%
• Gross Rent Multiplier (GRM): 15
• Date: 10/01/2020
• Buyer: Phil Lin
• Seller: John Patterson
• Brokers: Davis Saadian, Ariel Sayani

This transaction involved the sale of 2706 Kenwood Avenue, a property ideal for USC student housing investment. The deal brought together buyer Phil Lin and seller John Patterson. The brokers who facilitated the transaction were Davis Saadian and Ariel Sayani.