Lorraine Jaffe Acquires 12-Unit Mid City Multifamily For $3.375M

The multifamily property located at 5804 San Vicente Blvd. in Mid City has been sold. The property consists of 12 units with a total of 9,818 square feet. The sale price for this transaction was $3,375,000, resulting in a price per unit of $281,250. The price per square foot was calculated to be $343. The Gross Rent Multiplier (GRM) for this property was 18.13x, and the Capitalization Rate (CAP) was 3.46%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,375,000
• Units: 12
• Price per Unit: $281,250
• Square Feet: 9,818
• Price per Square Foot: $343
• Gross Rent Multiplier (GRM): 18.13x
• Capitalization Rate (CAP): 3.46%

Lorraine Jaffe is the buyer of this property, while Paul Silver is the seller. Jordan Asheghian and Tony Azzi from Marcus & Millichap represented the buyer as their representatives, whereas Dana Brody, also from Marcus & Millichap, acted as the seller's representative. During the transaction, the property was sold for 18.13x GRM with a 3.46% Cap Rate.