Matthew Lane Purchases Multifamily Asset From Daniel Collins For $1.365M In Los Angeles

The property asset involved in this transaction is a multifamily building located at 1329 2nd Avenue, Los Angeles, CA 90019. It consists of six units and encompasses a total square footage of 5,824. The asset was sold for a sale price of $1,365,000, resulting in a price per unit of $227,500 and a price per square foot of $234.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,365,000
• Buyer: Matthew Lane
• Seller: Daniel Collins
• Units: 6
• Square Footage: 5,824
• Price Per Unit: $227,500
• Price Per Square Foot: $234
• Cap Rate: 7.33%
• Brokers: Daniel Hirth & Alex Reyhan - The Hirth Group

Daniel Hirth and Alex Reyhan of The Hirth Group worked collaboratively to represent both the buyer and the seller, ensuring a successful closing of the transaction. The seller, a repeat client, and the buyer, a first-time investor, benefited from the brokers' clear communication and hands-on guidance throughout the process.