Jared Eiger Purchases Multifamily Property At 2804 South Norton Avenue For $1,725,000

The asset involved in this transaction is a multifamily property located at 2804 South Norton Avenue in Los Angeles. The sale price was $1,725,000, for a total of 5 units, resulting in a price per unit of $345,000. The building has a total square footage of 4,654, with a price per square foot of $370.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,725,000
• Address: 2804 South Norton Avenue
• Market: Los Angeles
• Units: 5
• Price Per Unit: $345,000
• Square Footage: 4,654
• Price Per Square Foot: $370
• Buyer: Jared Eiger
• Seller: Adam Collins
• Buyer's Representative: William James, Peter James & Danny Stein - The James Group - Lyon Stahl Investment Real Estate
• Seller's Representative: Brandon Maghen & Aaron Jacobson - Lyon Stahl Investment Real Estate

The note from the seller's representative indicates that Brandon Maghen and Aaron Jacobson facilitated the transaction for the seller, while William James, Peter James, and Danny Stein acted as representatives for the buyer. The transaction involved a 1031 exchange, allowing the buyer to defer capital gains taxes while quickly securing a replacement property.