Edwin Cortez Acquires Multifamily Property On S. Orange Grove Ave For $2.1M

1556 S. Orange Grove Ave, a multifamily property, was recently sold in a closed transaction. The property spans 6,000 square feet and consists of 7 units. The sale price was $2,100,000, resulting in a price per square foot of $350. The price per unit was $300,000. The property's capitalization rate is 3.59% and the gross rent multiplier is 16.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,100,000
• Square Footage: 6,000
• Number of Units: 7
• Price per Square Foot: $350
• Price per Unit: $300,000
• Capitalization Rate: 3.59%
• Gross Rent Multiplier: 16

The seller of 1556 S. Orange Grove Ave was Karen M Peters, and the buyer was Edwin Cortez. The deal was facilitated by brokers Michael Monempour and Ariel Sayani, demonstrating their expertise and involvement in the transaction.