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Marcus & Millichap Sells South Westmoreland Avenue Property For $9.6M

523 South Westmoreland Avenue
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This MultiFamily property located in CA was sold for $9,575,000 over 5 years ago. The broker of the deal was Sean Rosenzweig

The property located at 523 South Westmoreland Avenue has been sold for a total price of $9,575,000. The transaction took place on November 21, 2018. The property spans over 10,200 square feet, resulting in a price per square foot of $316. It consists of 56 units and was sold at an average price per unit of $170,982. The capitalization rate for this transaction is 3.68% with a gross rent multiplier of 13.21.

Summary of transaction details

  • Property Type: SALE
  • Transaction Amount: $9,575,000
  • Square Footage: 10,200
  • Price per Square Foot: $316
  • Number of Units: 56
  • Price per Unit: $170,982
  • Capitalization Rate: 3.68%
  • Gross Rent Multiplier: 13.21

The sale of the property was facilitated by broker Sean Rosenzweig from Marcus & Millichap. He represented either the buyer or seller in the transaction, acting as their representative.

View Related

Deals
  • Location
    523 South Westmoreland Avenue, Los Angeles, CA, USA523 South Westmoreland Avenue, Los Angeles, CA, USA
  • Sale Price
    $9,575,000$9,575,000
    $938 PPSF$938 PPSF
  • Area
    10,200 SF10,200 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Sean Rosenzweig

Sean Rosenzweig

Deals11
Sold$91.5M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Sean Rosenzweig DATE: 11/21/2018 ADDRESS: 523 South Westmoreland Avenue BROKER: Sean Rosenzweig - Marcus & Millichap PRICE: $9,575,000 SF: 10,200 ~ PPSF: $316 UNITS: 56 PPU: $170, 982 CAP: 3.68% GRM: 13.21

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