Private Investor Purchases 20-Unit Multifamily Property In Los Angeles For $5.4M With Financing

A private investor purchased a 20-unit multifamily property located at 1534 Shenandoah Street in Los Angeles for $5.4 million. The property spans 15,300 square feet on a 0.3-acre lot and features four added ADUs along with renovated units. The buyer has plans to further upgrade the property to increase potential income.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,400,000
• Units: 20
• Price Per Unit: $270,000
• Square Footage: 15,300
• Price Per Square Foot: $353
• Broker: Sam Liberow - Marcus & Millichap
• Mortgage Broker: Sharone Sabar - Marcus & Millichap

Sam Liberow and Sharone Sabar, both from Marcus & Millichap, facilitated the transaction, contributing their expertise in the multifamily market. The financing for the acquisition includes a new loan amounting to $3.8 million, ensuring the buyer's capability to proceed with further enhancements to the property.