Aida Baharian Acquires Multifamily Property In North Hollywood For $2.75M

A 4-unit multifamily property located at 6810 Simpson Ave in North Hollywood has been sold for a record-breaking price of $2,750,000. The transaction took place off-market and involved a 1031 exchange buyer. The building, built in 2020, consists of 4 units and spans a total of 7,128 square feet. With a price per unit of $687,500 and a price per square foot of $385, the property achieved a 4.18% capitalization rate and a gross rent multiplier of 16.03x.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,750,000
• Address: 6810 Simpson Ave
• Market: North Hollywood

The buyer of the property is Aida Baharian, represented by Yuri Adamyan from Park Regency Realty. The seller, Lawrence Rozenberg, was represented by Glen Scher and Filip Niculete from the LAAA Team at Marcus & Millichap. This successful deal marks the highest price ever achieved in 91605 for a 4-unit apartment building and for a 4-unit property in North Hollywood. The asset was closed at a price of $2,750,000, with each unit priced at $687,500 and a price per square foot of $385.80. The property boasts a 4.18% capitalization rate and a gross rent multiplier of 16.03x.

It is worth noting that this transaction was completed through a 1031 exchange buyer, allowing for tax deferral on the capital gains. The sale of this property demonstrates the strong demand and appreciation for multifamily properties in North Hollywood.