Los Angeles County Investor Acquires Multifamily Property In Fullerton For $2.665M

A 10-unit multifamily property located at 3926 Franklin Avenue in Fullerton, California, has been sold for $2,665,000. The property spans 7,410 square feet on a 0.44-acre lot, resulting in a price per unit of $266,500 and a price per square foot of $360.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,665,000
• Units: 10
• Square Footage: 7,410
• Price Per Unit: $266,500
• Price Per Square Foot: $360
• DATE: 10/02/2024
• Market: Fullerton
• Acres: 0.44

Andrew Boukather of MBI Equity Partners and Daniel Blackwell of CBRE represented the transaction. The buyer is a Los Angeles County investor interested in implementing significant capital improvements to increase the property’s value, potentially raising the cap rate from 4.52% to 8.60%.