A five-building, 197-unit multifamily portfolio located at 5500-5502 Washington Street, 5540 Washington Street, 5550 Washington Street, and 5515 Plunkett Street in Hollywood has been sold for $39,188,000. The total square footage of the portfolio amounts to 174,487, with a price per unit of $198,924 and a price per square foot of $225.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,188,000
• Buyer: Arash Gohari - 27 Capital; Adam Sasouness & Josh Sasouness
• Seller: Bryan Grossman
• Brokers: Joseph Thomas & Alec Demetriou - Marcus & Millichap
• Units: 197
• Square Footage: 174,487
• Price per Unit: $198,924
• Price per Square Foot: $225

27 Capital, in partnership with an affiliate of Dwight Capital, is set to undertake a comprehensive value-add renovation program across the newly acquired assets, including enhancements to units and common areas as well as improvements to landscaping and operational efficiencies. The investment also presents long-term development potential, with plans for a future residential phase on an underutilized parcel.