JNM Realty Represents Both Parties In $1.145M Multifamily Sale In Los Angeles

The property involved in the transaction is a multifamily asset located at 4031 Griffin Avenue in Los Angeles. It was sold for $1,145,000, consisting of 6 units with a price per unit of $190,833. The building has a total square footage of 5,462, translating to a price per square foot of $209.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $1,145,000
• Address: 4031 Griffin Avenue
• Market: Los Angeles
• Units: 6
• Price per Unit: $190,833
• Square Footage: 5,462
• Price per Square Foot: $209
• Broker: Demis Dokhanian - JNM Realty

The transaction faced challenges such as deferred maintenance, a quick turnaround, and concerns related to Proposition 33. Demis Dokhanian represented both parties, facilitating an all-cash transaction completed in a 10-day escrow after just 16 days on the market, generating multiple non-contingent offers.