Vyacheslav Velen Acquires 11 Unit Multifamily Property In Los Angeles For $3,315,000

The property involved in the transaction is a multifamily asset located at 3552 Centinela Avenue in Los Angeles. The sale price was $3,315,000, and the property consists of 11 units, providing a price per unit of $301,363. It has a total square footage of 10,514, resulting in a price per square foot of $315. The building was constructed in 1987 and is not subject to LA City RSO regulations, featuring a unit mix of nine 2-bedroom, 2-bathroom apartments and two 1-bedroom, 1-bathroom apartments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,315,000
• Units: 11
• Price Per Unit: $301,363
• Square Footage: 10,514
• Price Per Square Foot: $315
• Buyer: Vyacheslav Velen
• Seller: Jakob Fernandez
• Buyer’s Representative: Brett Sanson - Marcus & Millichap
• Seller’s Representative: Tamas Batyi - Compass

Brett Sanson, representing the buyer, noted that the buyer was completing a 1031 Exchange and found the property's prime location and non-RSO status particularly appealing. The seller, Jakob Fernandez, was a long-term owner seeking to exit the business, which facilitated the closing of the transaction handled by both the Sanson Multifamily Group and Tamas Batyi Group.