2965 Waverly LLC Acquires Multi-Family Property In Silverlake For $13M

The property at 2975 Waverly Drive in Silverlake, LA was recently sold in a highly competitive off-market deal. This multi-family asset consists of 36 units and spans a total area of 32,400 square feet. The transaction took place on July 31, 2018, with an impressive sale price of $13,000,000, resulting in a price per square foot of $401. The buyer, 2965 Waverly LLC, acquired the property from the seller, Kelleher James D Decd Est. This deal marks the largest transaction in the trendy and highly desirable Silverlake market in over 5 years.

Summary of transaction details

• Property Type: Multi Family
• Transaction Amount: $13,000,000
• Square Footage: 32,400
• Price per Square Foot: $401
• Units: 36
• Price per Unit: $361,111

Jared Levine and Hirsch Sherman of mlrealestategroup served as the brokers for this deal, representing the respective parties involved. It is worth noting that there were multiple bidders vying for this property, highlighting its desirability in the market. The sale of 2975 Waverly Drive showcases the strong demand and high competitiveness in the Silverlake market.