McMullin Drake Investments Acquires Baldwin Hills Multifamily For $15.3M With Seller's Rep Chris Chasin

Located at 4180 Marlton Ave in Baldwin Hills, this multifamily property was recently sold for a total of $15,300,000. The sale took place on July 1, 2021, and the property consists of 55 units with an average price per unit of $278,000. Spanning across 52,000 square feet, the property's price per square foot is $294. With a gross rent multiplier (GRM) of 13x, the property offers a 5% capitalization rate (CAP). The seller, Ramesh Ganatra, was represented by Chris Chasin. On the buying side, McMullin Drake Investments, represented by Morgan McMullin and Bo Drake, acquired the property.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,300,000
• Address: 4180 Marlton Ave
• Market: Baldwin Hills
• Units: 55
• Price per Unit (PPU): $278,000
• Square Footage (SF): 52,000
• Price per Square Foot (PPSF): $294
• Gross Rent Multiplier (GRM): 13x
• Capitalization Rate (CAP): 5%

Morgan McMullin and Bo Drake, representing McMullin Drake Investments, acted as the buyers in this transaction. They successfully acquired the multifamily property from Ramesh Ganatra. Chris Chasin served as the seller's representative, ensuring a smooth sale process. This deal showcases the expertise and negotiation skills of all parties involved.