Transwestern Represents Buyer In $7.5M Off-Market Multifamily Sale In Palms
3667 Mentone Avenue
12,800 SF
Summary
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.
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