Marcus & Millichap Brokered Sale Of Hollywood Multifamily Property For $5.5M

A multifamily property located at 753 Lillian Way in Hollywood has been sold for $5,500,000. The property spans 9,070 square feet and has 8 units, resulting in a price per square foot of $606.33. The purchase price per unit is $687,500. The capitalization rate is 4.91% and the gross rent multiplier is 14.69.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,500,000
• Square Footage: 9,070
• Price per Square Foot: $606.33
• Number of Units: 8
• Price per Unit: $687,500
• Capitalization Rate: 4.91%
• Gross Rent Multiplier: 14.69

The sale was facilitated by brokers Filip Niculete, Glen Scher, JR Louie from Marcus & Millichap, and also involved Tommy Isola from Lee & Associates.