LF 26 LLC Sells Multifamily Property On Sherbourne Dr In Beverly Hills For $3.05M

Located in Beverly Hills, the multifamily property at 814 S. Sherbourne Dr was recently sold in a closed transaction. The property consists of 7 units with a total square footage of 5,585. The sale price for this asset was $3,050,000, resulting in a price per square foot of $546.11. The property was sold at a price higher than the previous listing price of $3,000,000. The deal was completed off-market and closed within a short 14-day escrow period. This transaction was an all-cash deal, indicating a swift and efficient process. Notably, this marks the 10th apartment building sold by Michael Monempour this year.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,050,000
• Address: 814 S. Sherbourne Dr, Beverly Hills
• Market: Beverly Hills
• Square Footage: 5,585
• Units: 7
• Price per Square Foot: $546.11
• Seller: LF 26 LLC
• Broker: Michael Monempour - represented the seller
• Price per Unit: $435,714
• CAP Rate: 3.31%
• GRM: 19.3

Michael Monempour played a significant role as the broker representing the seller, LF 26 LLC, in this transaction. His expertise and experience in the industry are evident, considering this is the 10th apartment building he has successfully sold this year. The property's value was exceeded during the off-market sale, with a $50,000 increase over the previous asking price. The quick 14-day escrow period further emphasizes the efficiency and effectiveness of this deal.