Wilbur & June Luo Acquire 7-Unit Multifamily Property In Los Angeles For $3.4M

A multifamily property located at 7327 Willoughby Avenue in Los Angeles was recently sold. The transaction took place on 12/22/2020 and the property was sold for $3,425,000. The property consists of 7 units with a price per unit of $489,286. The total square footage of the property is 7,800, resulting in a price per square foot of $439. The Gross Rent Multiplier (GRM) for the property is 15.09X, and the Capitalization Rate (CAP) is 4.11%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,425,000
• Units: 7
• Price per Unit: $489,286
• Square Footage: 7,800
• Price per Square Foot: $439
• Gross Rent Multiplier (GRM): 15.09X
• Capitalization Rate (CAP): 4.11%

The buyer of the property is Wilbur & June Luo, while the seller is the Edmund Cohen Separate Property Trust. The transaction was facilitated by Max Berger from the ennyStevensTeam, acting as the representative for the buyer. Max Berger is affiliated with the agency BergerMax.