Emily Underwood Purchases Multifamily Property At 2911 South Palm Grove Avenue For $1,212,500

The property involved in this transaction is a multifamily asset located at 2911 South Palm Grove Avenue in Los Angeles. The sale price was $1,212,500, which translates to $404,167 per unit for the 3 units within the property. The total square footage of the building is 3,960, resulting in a price per square foot of $306.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,212,500
• Units: 3
• Price Per Unit: $404,167
• Square Footage: 3,960
• Price Per Square Foot: $306
• Buyer: Emily Underwood
• Seller: Dave Witherow
• Broker Representatives: Brandon Maghen & Aaron Jacobson - Lyon Stahl Investment Real Estate

Brandon Maghen and Aaron Jacobson, representing Lyon Stahl Investment Real Estate, were instrumental in facilitating this sale. They closed the transaction despite an extended escrow period and successfully managed the sale of the seller's final two apartment buildings. The property included two vacant units and one tenant at a below-market rate, offering a value-add opportunity for the buyer, Emily Underwood.