Northmarq Brokers Dorel Meiri & Steven Goldstein Represent Sale Of Hollywood Multifamily Property For $1.8M

Northmarq is pleased to announce the sale of 933 North Hudson Avenue, an 8-unit walk-up apartment community located in Hollywood. The property, owned by Joanne Wright for over 20+ years, was sold in an off-market transaction. The buyer submitted an all-cash offer, resulting in a quick 10-day close. The sale price for 933 North Hudson Avenue was $1,825,000, making it one of the lowest Cap-Rate transactions in Hollywood over the last 12 months (2.78%).

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,825,000
• Date: 10/27/2022
• Address: 933 N Hudson Ave, Los Angeles, CA
• Market: Los Angeles, CA
• Seller: Joanne Wright
• Brokers: Dorel Meiri & Steven Goldstein - Northmarq
• Units: 8
• Price Per Unit: $228,125
• Total Square Footage: 6,084
• Price Per Square Foot: $300

The sale of 933 North Hudson Avenue represents a significant transaction in the Hollywood real estate market. Dorel Meiri and Steven Goldstein, representing Northmarq, facilitated the deal, ensuring a successful off-market transaction. The property's prime location in Hollywood, combined with the all-cash offer and quick closing, contributed to its appeal and ultimately resulted in a favorable sale price. This transaction highlights the strong demand for multifamily properties in the area, even in the face of a low Cap-Rate.