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4651 Council Street

Sara Weinstock Purchases Multifamily Property From Joseph And Kamyar Shabani For $2.32M In Koreatown
SOLDMultiFamily

Sara Weinstock Purchases Multifamily Property From Joseph And Kamyar Shabani For $2.32M In Koreatown

4651 Council Street

$2,320,000

$311/SF

Building Size

7,444 SF

Asset Type

MultiFamily

Closing

Oct 23, 2025

AI

The transaction involves a multifamily asset located at 4651 Council Street in Los Angeles, comprising 7 units. The property was sold for $2,320,000, equating to a price per unit of $331,428 and a total square footage of 7,444, resulting in a price per square foot of $311.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,320,000
  • Units: 7
  • Price Per Unit: $331,428
  • Square Footage: 7,444
  • Price Per Square Foot: $311
  • Buyer: Sara Weinstock
  • Seller: Joseph Shabani & Kamyar Shabani - Optimus Properties
  • Seller's Representative: Neema Ahadian & Jeffrey Estrada - Marcus & Millichap
  • Market: Los Angeles
  • Closing Date: 10/23/2025

The Neema Group of Marcus & Millichap managed the sale, successfully attracting 1031 exchange buyers targeting properties with immediate cash flow and minimal deferred maintenance. The seller had invested over $500,000 in capital improvements since the acquisition of the asset in 2018, which included full renovations of five units, enhancing the overall value of the investment. The sale achieved competitive pricing relative to 1950s rent-controlled buildings in Koreatown.

Players

Neema Ahadian

Marcus & Millichap

Broker

$733M

vol

79 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage
Kamyar Shabani

Kamyar Shabani

Optimus Properties, LLC

Seller

$160.5M

vol

13 deals

Seller

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.84%

Cash-on-Cash

-1.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93