LA Platinum Properties LLC Acquires Distressed Apartment Building In Los Angeles For $1.05M

An apartment building located at 4026 Morgan Ave has been sold for a price of $1,055,000. The property spans 4,547 square feet and has a price per square foot (PPSF) of $232. It consists of 6 units, resulting in a price per unit (PPU) of $175,833. The gross rent multiplier (GRM) for the property is 12.1. This transaction took place on July 10, 2019.

Summary of transaction details

• Property Type: Apartment building
• Transaction Amount: $1,055,000
• Address: 4026 Morgan Ave
• Square Footage: 4,547
• Price per Square Foot (PPSF): $232
• Number of Units: 6
• Price per Unit (PPU): $175,833
• Gross Rent Multiplier (GRM): 12.1
• Date of Transaction: July 10, 2019

The buyer of this property is LA Platinum Properties LLC, and the broker involved in the deal is Ramin Gheitanchi.

It is important to note that this was a distressed sale.