Noam Srol Of Stock&Srol Capital Acquires Multifamily Asset In Hermosa Beach For $3.25M

The multifamily asset located at 712 Manhattan Avenue in Hermosa Beach has been sold for $3,250,000. The property comprises 12 units, with a price per unit of $270,833. The building features a total square footage of 4,460 and a price per square foot of $728.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,250,000
• Units: 12
• Price Per Unit: $270,833
• Square Footage: 4,460
• Price Per Square Foot: $728
• Buyer: Noam Srol - Stock&Srol Capital
• Seller: TriWest Development
• Buyer's Representatives: Benj Lester & Noam Srolovitz - Kape Property Management

Benj Lester and Noam Srolovitz from Kape Property Management represented Stock&Srol Capital in this transaction. They noted that this multifamily opportunity presents a significant value add, with current rents at about 50% of the market rate, indicating potential for increased revenue. The property will be leased and managed by their team.