Private Investor Acquires Koreatown Multifamily Property For $2.2M

Marcus & Millichap arranged the sale of 2900 Francis Avenue, a Koreatown multifamily property, with an undisclosed seller selling to a private investor for $2.2 million. The property, built in 1922 and subject to Los Angeles' rent control laws, comprises 10 one-bedroom/one-bath apartments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,200,000
• Units: 10
• Price Per Unit: $220,000
• Address: 2900 Francis Avenue
• Market: Los Angeles

Jason Tuvia and Joshua Yeager, representing Marcus & Millichap, represented the seller and secured the buyer in this transaction.