Gary E Strathearn Acquires Multifamily Property In Mar Vista For $1.87M

A multifamily property located at 3608 South Centinela Ave in Mar Vista has been sold for $1,870,000. The property spans 3,140 square feet and consists of 4 units, resulting in a price per square foot of $595.54. The purchase price per unit is $467,500. The property has a capitalization rate of 3.61% and a gross rent multiplier of 18.90. The sale took place on June 20, 2019.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,870,000
• Square Feet: 3,140
• Price Per Square Foot: $595.54
• Number of Units: 4
• Price Per Unit: $467,500
• Capitalization Rate: 3.61%
• Gross Rent Multiplier: 18.90
• Market: Mar Vista

The seller of the property is the Rivera Trust, while the buyer is Gary E Strathearn. The deal was facilitated by Jason Tuvia and Herschel Weintraub from Marcus & Millichap.