Jim Smith Acquires Multifamily Property On Fountain Ave. In Hollywood For $2.58M From Seller Andrei Karapetian

Located in Hollywood, the multifamily property at 5667 Fountain Ave was recently sold in a closed transaction. The sale took place on April 9, 2021, and the property was represented by broker Morgan McMullin from Morgan McMullin's agency. The property features 9 units with a total square footage of 7,097. The sale price for this transaction was $2,580,000, resulting in a price per unit of $286,666. The price per square foot was $364, and the Gross Rent Multiplier (GRM) was calculated at 13 times. Furthermore, the capitalization rate (CAP) for this property was 5.15%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,580,000
• Date: 04/09/2021
• Address: 5667 Fountain Ave
• Market: Hollywood
• Buyer: Jim Smith
• Seller: Andrei Karapetian
• Broker: Morgan McMullin - Morgan McMullin's Agency

Jim Smith acted as the buyer in this transaction while Andrei Karapetian served as the seller. The deal was facilitated through the representation of broker Morgan McMullin from Morgan McMullin's agency. With a price per unit of $286,666 and a price per square foot of $364, this sale showcases the value of this multifamily property located in Hollywood.