Shuen Chao Acquires 4-Unit Multifamily Property In Burbank, CA For $1.6M

A multifamily property located at 602 E Palm Avenue in Burbank, CA, has been sold in a closed transaction. The property consists of 4 units, with a total square footage of 3,002. The sale price for the property was $1,600,000, resulting in a price per unit of $400,000 and a price per square foot of $533. The transaction took place on September 28, 2022.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,600,000
• Units: 4
• Price per Unit: $400,000
• Square Footage: 3,002
• Price per Square Foot: $533
• Address: 602 E Palm Avenue, Burbank, CA

The buyer in this transaction is Shuen Chao, while the seller is Monat Lee. The broker involved in the deal is Greg Alexanian from Alexanian Apartment Advisors. It is worth noting that this was an all-cash sale.

The sale of the multifamily property at 602 E Palm Avenue in Burbank, CA, showcases a successful transaction in the real estate market. The involvement of key individuals and companies, such as the buyer Shuen Chao, seller Monat Lee, and broker Greg Alexanian from Alexanian Apartment Advisors, highlights the collaborative nature of the deal. The all-cash sale further demonstrates the confidence and financial capability of the parties involved in the transaction.