Rao Yalamanchili Of Positive Investments Sells 31-Unit Multifamily In Los Angeles For $6.04M

A 31-unit multifamily property located at 3407-3411 Drew Street in Los Angeles, CA, was sold for $6,040,000. The asset covers an area of 23,207 square feet and sits on 0.62 acres, with a price per unit of $194,839 and a price per square foot of $260. The transaction reflects a cap rate of 5.04%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,040,000
• Units: 31
• Square Footage: 23,207
• Price per Unit: $194,839
• Price per Square Foot: $260
• Cap Rate: 5.04%
• Seller: Rao Yalamanchili - Positive Investments
• Broker: Rick Raymundo - Marcus & Millichap
• Market: Los Angeles, CA

A partnership of two nonprofit organizations acquired the property, utilizing funding from the Los Angeles County Affordable Housing Solutions Agency, with intentions to preserve it as affordable housing.