Newmark Sells Westside Trio Multifamily Portfolio In Los Angeles For $16.15 Million

The multifamily portfolio, known as Westside Trio, consists of three properties located at 1823 North Fuller Avenue in Los Angeles, 8730-8736 Holloway Drive in West Hollywood, and 1335-1351 Manhattan Beach Boulevard in Manhattan Beach. The properties encompass a total of 38 units and span 28,444 square feet. The total sale price for the portfolio was $16,150,000, reflecting a price per unit of $425,000 and a price per square foot of $567 in the market areas of Los Angeles, West Hollywood, and Manhattan Beach.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,150,000
• Units: 38
• Price Per Unit: $425,000
• Square Footage: 28,444
• Price Per Square Foot: $567
• Broker Representatives: Anthony Muhlstein, Chris Benton & Gabe Munson - Newmark

Newmark facilitated the transaction and announced the sale, providing insights into the competitive nature of the neighborhoods involved and the blended pricing structure achieved in this multifamily portfolio deal. The deal showcases the strategic value of the portfolio in the highly sought-after areas of West Los Angeles.