Mar Vista Lofts 4 LLC Acquires 21-Unit Multifamily Property From Park Towers For $9M

The property involved in this transaction is a multifamily asset located at 3992-3996 Inglewood Boulevard in Los Angeles. The sale price for the property was $9,000,000, which breaks down to approximately $428,571 per unit. The building consists of 21 units and is situated in a market known for its growth potential, particularly in the vicinity of Silicon Beach and Venice Beach.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,000,000
• Units: 21
• Price Per Unit: $428,571
• Buyer: Mar Vista Lofts 4 LLC
• Seller: Park Towers (1990) Corporation
• Brokers: Kitty Wallace & Melanie Nutting - Colliers

The deal was made with Mar Vista Lofts 4 LLC acquiring the property from Park Towers (1990) Corporation. Brokers Kitty Wallace and Melanie Nutting facilitated the transaction through Colliers. The buyer, a local apartment developer and a family office, intends to enhance the property to boost cash flow in the burgeoning Mar Vista area.