Prime Residential Acquires Multifamily Asset At 740 South Burnside Avenue For $51.25M

The multifamily property located at 740 South Burnside Avenue in Los Angeles has a sale price of $51,250,000. This property comprises 132 units, with a price per unit of $388,257. The total square footage of the asset is 136,488, resulting in a price per square foot of $375.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $51,250,000
• Buyer: Prime Residential
• Brokers: Jeff Louks, Gayle Factor, Elliot Sabag & Matt Ziegler - Marcus & Millichap
• Mortgage Broker: Steven Paskover - Walker & Dunlop
• Units: 132
• Square Footage: 136,488
• Price Per Unit: $388,257
• Price Per Square Foot: $375

The transaction involved key individuals such as Jeff Louks, Gayle Factor, Elliot Sabag, and Matt Ziegler representing the buyer through Marcus & Millichap. Additionally, Steven Paskover served as the mortgage broker from Walker & Dunlop, facilitating the financial aspect of the deal.