Demis Dokhanian of JNM Realty Sells 10-Unit Bungalow Style Property in Hollywood

This multifamily property is located at 4061 Melrose Avenue in Los Angeles, featuring a sale price of $2,240,000. The asset comprises 10 units with a total square footage of 6,768, which equates to a price per unit of $224,000 and a price per square foot of $330.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,240,000
• Units: 10
• Lot Size: 15,000+ sq ft
• Buyer: Aaron Belliston
• Broker: Demis Dokhanian - JNM Realty
• Closing Date: 11/14/2024

The transaction involved Demis Dokhanian from JNM Realty representing the buyer, Aaron Belliston. The key features noted were the four vacant units provided at closing and the availability of onsite parking, which the buyer recognizes as an opportunity for creative repositioning of the property. The arrangement was structured to include favorable transaction terms, notably a long-term closing period.