An 8-unit apartment building located at 3754 Vinton Avenue in Los Angeles was sold for $2.25 million. Each unit was priced at $281,250, with a total square footage of 6,570, resulting in a price per square foot of $342. The property is situated in the Palms submarket near Culver City, which presents a value-add opportunity due to rents being approximately 30% below market. It also features ample parking, completed soft-story retrofitting, and is in proximity to tech hubs and entertainment companies.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,250,000
• Units: 8
• Price Per Unit: $281,250
• Square Footage: 6,570
• Price Per Square Foot: $342
• Date of Sale: 09/06/2024
• Market: Los Angeles

Peter James and William James from Lyon Stahl Investment Real Estate represented the seller in this transaction, bringing their expertise in multifamily properties to this successful deal.