Spot Service Station LLC Acquires 15-Unit Multifamily Property In Los Angeles For $4.95M

The 15-unit multifamily property located at 7370 Hawthorn Avenue in Los Angeles was acquired for $4,950,000. The asset is positioned near Hollywood Boulevard and Sunset Boulevard, with opportunities for value-add improvements given its below-market rents and desirable location close to Runyon Canyon and Downtown LA.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,950,000
• Units: 15
• Price Per Unit: $330,000
• Buyer: Spot Service Station, LLC
• Brokers: Alex Peterson & Brent Sprenkle - NorthMarq

Alex Peterson and Brent Sprenkle represented the buyer, Spot Service Station, LLC, in this transaction, facilitating the acquisition of the property, which presents further investment potential in a competitive market.