Jerry Wise - BRAD Management Acquires Beverly Grove Multifamily For $2.55M

A multifamily property located at 6439 Orange St. in Beverly Grove has been sold for $2,550,000. The property consists of 12 units with a price per unit of $212,500. Spanning across 7,376 square feet, the property was sold at a price per square foot of $345. The transaction resulted in a capitalization rate of 5.19%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,550,000
• Units: 12
• Price per Unit: $212,500
• Square Footage: 7,376
• Price per Square Foot: $345
• Capitalization Rate: 5.19%

The buyer of the property was Jerry Wise, represented by BRAD Management. The transaction was facilitated by brokers Martin Ensbury, Mike Millea, and Nicholas Ensbury from The Ensbury Group of KW Commercial. The lending for the deal was provided by Tyler Virgadamo from Marcus & Millichap Capital Corp.