Amir Araghi Acquires Spanish-Style Multifamily In Mid-Wilshire For $2.72M

Located in the Mid-Wilshire area, a fully renovated Spanish-Style multifamily property has been sold at 854 S. Sycamore Ave. The property, built in 1931, consists of four units and spans 5,302 square feet. The sale, which took place on June 17, 2022, has set a new benchmark in the market with a price of $2,720,000. With a price per unit of $680,000, the property was sold at a rate of $513 per square foot. The transaction attracted a total of five offers, making it one of the top five sales ever recorded in the 90036 area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,720,000
• Buyer: Amir Araghi
• Seller: James H. Clelland & Lori R. Clelland
• Brokers: Glen Scher & Filip Niculete (LAAA Team) - Marcus & Millichap
• Units: 4
• Price per Unit: $680,000
• Square Footage: 5,302
• Price per Square Foot: $513

The successful buyer in this transaction was Amir Araghi, while the property was sold by James H. Clelland and Lori R. Clelland. The sale was facilitated by the LAAA Team from Marcus & Millichap, represented by brokers Glen Scher and Filip Niculete. This transaction marks a significant achievement for the parties involved, as the property received considerable interest with a total of five offers. The sale of this fully renovated Spanish-Style multifamily property on S. Sycamore Ave. in Mid-Wilshire has set a new standard in the market, joining the list of top five all-time sales in the 90036 area.