SOLD
Oron Maher & Nicole Lu Of Maher Commercial Realty Facilitate $1.16M Multifamily Property Sale In Los Angeles
552 West 40th Place
MultiFamily
2,200 SF
2,200 SF
Sold 27 days ago
Summary
Sale
CALIFORNIA
MultiFamily
2,200 sqft
An empty five-unit apartment building one block from Exposition Park in Los Angeles has been sold for $1,162,500. The multifamily property spans 2,200 square feet and is located at 552 West 40th Place. The price per unit stands at $232,500, with a price per square foot of $528.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,162,500
- Units: 5
- Square Footage: 2,200
- Price per Unit: $232,500
- Price per Square Foot: $528
- Address: 552 West 40th Place, Los Angeles
- Market: Los Angeles
Oron Maher and Nicole Lu from Maher Commercial Realty facilitated the sale of the building. This vacant property, with 7 parking spaces, is advantageously positioned just a block south of BMO Stadium and a mile away from USC. With the potential to develop small lot homes or leverage affordable city and state laws for additional construction, the property offers a promising investment opportunity.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Oron Maher & Nicole Lu
DATE: 04/03/2024
ADDRESS: 552 West 40th Place
MARKET: Los Angeles
ASSET TYPE: Multifamily
BUYER: Eugene Sun
SELLER: Sam Grayeli
BROKERS: Oron Maher (@OronMaher) & Nicole Lu - Maher Commercial Realty (@Mahercommercial)
SALE PRICE: $1,162,500
UNITS: 5 ~ PPU: $232,500
SF: 2,200 ~ PPSF: $528
NOTE FROM BROKERS: Maher Commercial Realty is pleased to announce the sale of a vacant five-unit apartment building one block from Exposition Park.
Representing buyer and seller, Maher Commercial Realty generated multiple offers and closed the sale in 21 days. With two renovated units, the fully vacant 5-unit building boasts 7 parking spaces and an excellent location one block south of BMO Stadium and one mile from USC. The buyer can select all their own tenants today and, on the LARD1.5/TOC Tier 3 site, potentially build as few as 7-8 small lot homes or more if they use AB2345 or other affordable city and state laws.
Oron Maher represented the Seller and Nicole Lu represented the Buyer in the transaction.View on map
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Address552 West 40th Place
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