Steven Levine & Triny Levine Purchase Multifamily Property In South Los Angeles

Located in South Los Angeles, the multifamily property at 542 W. 76th St. has been sold in a closed transaction. The property consists of six units, with a total square footage of 4,128. The sale price was recorded at $1,325,000, resulting in a price per square foot of $320. The property was sold with significant deferred maintenance and achieved a capitalization rate of 4.60% and a gross rent multiplier of 12.56.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,325,000
• Units: 6
• Price per Unit: $220,833
• Square Footage: 4,128
• Price per Square Foot: $320
• Capitalization Rate: 4.60%
• Gross Rent Multiplier: 12.56

The buyer of the property is Steven Levine and Triny Levine, while the seller is Ron Mayer. Representing the buyer was Debby Perkins from Corcoran Global Living, and representing the seller were Jordan Epstein, Filip Niculete, and Glen Scher from Marcus & Millichap. This transaction generated a total of 10 offers before the sale, showcasing the market's interest in the property despite its deferred maintenance.

Note from the broker: This property in South LA attracted significant attention, with a total of 10 offers being generated. The sale price of $1,325,000 reflects the demand for the property, even with its existing deferred maintenance. With a price per square foot of $320.98 and a price per unit of $220,833, this transaction achieved a capitalization rate of 4.60% and a gross rent multiplier of 12.56.