A brand-new 10-unit apartment building located at 3667 Mentone Ave in Palms, Los Angeles, was recently sold in an off-market transaction. The property, representing a multifamily asset, was purchased for a price of $7,500,000. The building spans across 12,800 square feet, resulting in a price per square foot of $585.94. With 10 units in total, the price per unit comes out to be $750,000. This transaction was facilitated by brokers John Swartz, Josh Kaplan, and Troy Lucero of Transwestern.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,500,000
• Address: 3667 Mentone Ave, Palms, Los Angeles
• Market: Palms
• Square Footage: 12,800
• Price per Square Foot: $585.94
• Number of Units: 10
• Price per Unit: $750,000

This off-market sale presents a great opportunity for the buyer to have a stabilized income stream, with little to no maintenance requirements, in the Palms neighborhood of Los Angeles.