Dan Gura Acquires Multifamily Property In Los Angeles For $1.76M

The property involved in this closed transaction is a multifamily asset located at 4211 Mclaughlin Avenue in Los Angeles. The property consists of 5 units with a total square footage of 4,536. The sale price for this property was $1,760,000, resulting in a price per unit of $352,000. The price per square foot was $388, and the capitalization rate was 4.19%. Additionally, the property achieved a Gross Rent Multiplier (GRM) of 15.79, making it the record sale in Mar Vista for the year 2023 and the highest price per unit for LA Rent Control (RSO) properties.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,760,000
• Units: 5
• Price per Unit: $352,000
• Square Footage: 4,536
• Price per Square Foot: $388
• Capitalization Rate: 4.19%
• Gross Rent Multiplier (GRM): 15.79

The buyer in this transaction was Dan Gura, while the seller was David Miller. The brokers involved in the deal were Filip Niculete, Glen Scher, and Jordan Epstein, who represented the LAAA Team at Marcus & Millichap. It's worth noting that the brokers generated six offers within a span of ten days, and the property closed at 98% of the list price. The seller, David Miller, engaged in a 1031 Exchange and exchanged into a Triple Net Lease (NNN) property, indicating a strategic move in their investment portfolio.