Han Widjaja Chen's GIG Team Sells 62-Unit Hollywood Multifamily For $16.7M

Located at 7070 Franklin Ave in Hollywood, this multifamily property was recently sold in a closed transaction. The property consists of 62 units, with a total square footage of 35,378. The sale price for this property was $16,700,000, resulting in a price per unit of $269,354. The price per square foot was $472. The property was listed with an asking price of $18,500,000. It is worth noting that at the time of the transaction, all of the units were vacant.

Summary of Transaction Details

• Property Type: Multifamily
• Address: 7070 Franklin Ave
• Market: Hollywood
• Sale Price: $16,700,000
• Asking Price: $18,500,000
• Units: 62
• Price per Unit: $269,354
• Square Footage: 35,378
• Price per Square Foot: $472

This transaction was facilitated by Han Widjaja Chen, a representative from CCIM (Certified Commercial Investment Member). Chen and his team at Growth Investment Group successfully sold this 100% vacant property. It is worth mentioning that this is the eighth vacant building in Class A locations that Chen's team has sold recently.