George Lalazarian Acquires Los Angeles Multifamily Property From Marentha Abraham For $2.25M

The property asset involved in this transaction is a multifamily building located at 3950 Hillcrest Drive in Los Angeles. The sale price for this property was $2,250,000, which consists of 16 units. The total square footage of the building is 10,359, leading to a price per unit of $140,625 and a price per square foot of $217.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,250,000
• Units: 16
• Square Footage: 10,359
• Price Per Unit: $140,625
• Price Per Square Foot: $217
• Buyer: George Lalazarian
• Seller: Marentha Abraham
• Broker: Chandler Rockwell - The Rockwell Group
• Market: Los Angeles

The transaction was characterized by the broker, Chandler Rockwell of The Rockwell Group, generating 11 offers within the first 10 days of marketing the property. The seller opted for an all cash transaction with a quick closing to move forward with the sale.