Morgan McMullin & Bo Drake Acquire Multifamily Property On Carlton Way In Hollywood For $5.2M

Located at 5440 Carlton Way in Hollywood, this multifamily property was recently sold in a closed transaction. The property consists of 18 units with a total square footage of 13,488. The sale price for this transaction was $5,225,000, resulting in a price per unit of approximately $290,278. The price per square foot was calculated at $387. The Gross Rent Multiplier (GRM) for this property was 12.6x, and the Capitalization Rate (CAP) was 5.0%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $5,225,000
• Units: 18
• Square Footage: 13,488
• Price per Unit: $290,278
• Price per Square Foot: $387
• Gross Rent Multiplier (GRM): 12.6x
• Capitalization Rate (CAP): 5.0%

The buyer in this transaction was Morgan McMullin and Bo Drake, represented by Adam Zunder and Peter Strauss. On the other hand, the seller was the Stark Family Trust.