Spring Property Group Acquires Multifamily Asset In Los Angeles From Neveo Mosser For $6.7M

The property asset involved in this transaction is a multifamily residential building located at 500 South Westmoreland Avenue in Los Angeles. The property was sold for $6,700,000, featuring 54 units which results in a price per unit of $124,074. The total square footage of the building is 46,144, with a price per square foot of $145.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,700,000
• Buyer: Spring Property Group
• Seller: Neveo Mosser
• Broker: Luc Whitlock - JLL
• Units: 54
• Square Footage: 46,144
• Price Per Unit: $124,074
• Price Per Square Foot: $145

In this transaction, Spring Property Group acquired the property from seller Neveo Mosser, with the brokerage services provided by Luc Whitlock from JLL, representing the buyer in this deal.