LWK Partners And Cypress Equity Investments Acquire 36-Unit Multifamily Portfolio For $8.19M

The property asset involved in this transaction is a multifamily building located at 5300-30 Radford Avenue in Valley Village. The sale price for this asset was $8,190,000, comprising 36 units with a price per unit of $227,500. The total square footage of the property is 31,369, leading to a price per square foot of $261.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,190,000
• Buyer: Matt Carney & Austin Nissly - LWK Partners & Cypress Equity Investments
• Seller: Steven Hartunian
• Buyer's Representative: Glenn Brander - Miller & Desatnik Realty; Jordan Mandel & Zach Freedman
• Seller's Representative: Jake Plewa - Re/Max
• Units: 36
• Square Footage: 31,369
• Price Per Unit: $227,500
• Price Per Square Foot: $261

LWK Partners & Cypress Equity Investments, in partnership with Sabal Investment Holdings, acquired the 36-unit portfolio in November, which is part of a larger acquisition strategy that includes 13 buildings and 111 units. Additionally, they have added 76 units to their development pipeline during the fourth quarter under their workforce housing density addition joint venture. This transaction brings LWK Partners' Los Angeles portfolio to a total of 32 buildings.