Private Investor Acquires 40-Unit Multifamily Building In Koreatown For $4.35M With NAI Capital Representation

A private investor acquired a 40-unit apartment building located at 520 South Hobart Boulevard in Koreatown, Los Angeles for $4,347,500. The property, which consists of 40 units, has a price per unit of $108,688. The transaction was exempt from the ULA tax, which contributed to its strong market interest.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,347,500
• Address: 520 South Hobart Boulevard
• Market: Koreatown, Los Angeles
• Units: 40
• Price Per Unit: $108,688
• Brokers: Jakob Friedman & Michael Dixon - NAI Capital Commercial

The transaction was represented by brokers Michael Dixon and Jakob Friedman from NAI Capital Commercial, highlighting the expertise involved in facilitating the deal. The prime location and the below-market rents contributed to the property's appeal in the marketplace.