Hershell Ben Acquires Multifamily Property In Los Angeles For $2.056M

The multifamily asset located at 743 North Alfred Street in Los Angeles was sold for $2,056,000. The property comprises 6 units with a price per unit of $342,667. Spanning 5,200 square feet, the sale resulted in a price per square foot of $395. The transaction involved Hershell Ben as the buyer and David Soghor as the seller. The deal was facilitated by brokers Jordan Asheghian and Tony Azzi from Marcus & Millichap.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,056,000
• Units: 6
• Price per Unit: $342,667
• Square Footage: 5,200
• Price per Square Foot: $395
• Address: 743 North Alfred Street
• Market: Los Angeles
• Buyer: Hershell Ben
• Seller: David Soghor
• Brokers: Jordan Asheghian & Tony Azzi - Marcus & Millichap

The sale of the property garnered significant interest, with 13 offers received. Ultimately, the property was sold for $131,000 over the list price, resulting in a 2.65% Cap Rate. This successful transaction highlights the strong demand for multifamily properties in the Los Angeles market.