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Xenon Investment Corp/Mehta Family Acquires Multifamily Portfolio In Koreatown & Tarzana For $23.3M

245 South Serrano Avenue & 5405 Lindley Avenue
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This MultiFamily property located in CA was sold for $23,300,000 about 4 years ago. The brokers of the deal were Eric Norris, Brent Sprenkle, and Vince Norris

A portfolio of multifamily properties in Koreatown and Tarzana has been sold for a total of $23,300,000. The properties, located at 245 South Serrano Ave and 5405 Lindley Ave, were sold by Goldrich Kest to the buyer, Xenon Investment Corp/Mehta Family. The transaction was facilitated by brokers Vince Norris, Brent Sprenkle, and Eric Norris. The portfolio consists of 104 units, with a total square footage of 76,674 and a price per square foot of $303.88. The purchase price per unit was $224,038.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $23,300,000
  • Address: 245 South Serrano Ave & 5405 Lindley Ave
  • Market: Koreatown & Tarzana
  • Buyer: Xenon Investment Corp/Mehta Family
  • Seller: Goldrich Kest
  • Brokers: Vince Norris, Brent Sprenkle, Eric Norris
  • Square Footage: 76,674
  • Price per Square Foot: $303.88
  • Units: 104
  • Purchase Price per Unit: $224,038
  • Note: Allocated pricing, properties sold as a portfolio

Vince Norris, Brent Sprenkle, and Eric Norris represented the buyer, Xenon Investment Corp/Mehta Family, in this transaction. The properties were sold as a portfolio, offering diverse investment opportunities in both Koreatown and Tarzana.

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  • Location
    245 S Serrano Ave, Los Angeles, CA, USA245 S Serrano Ave, Los Angeles, CA, USA
  • Sale Price
    $23,300,000$23,300,000
    $303 PPSF$303 PPSF
  • Area
    76,674 SF76,674 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 3 Agencies3 Brokers, 3 Agencies

Agents

Vince Norris

Vince Norris

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Brent Sprenkle

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Agencies

Walker & Dunlop

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NorthMarq

NorthMarq

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Deal Summary

SALE IMAGE: Brent Sprenkle @brent.sprenkle, Vince Norris @norris.vince & Eric Norris @er_norris00 DATE: 01/31/2020 ADDRESS: 245 South Serrano Ave & 5405 Lindley Ave MARKET: Koreatown & Tarzana ASSET TYPE: Multifamily BUYER: Xenon Investment Corp/Mehta Family SELLER: Goldrich Kest BROKERS: Vince Norris @norris.vince, Brent Sprenkle @brent.sprenkle, Eric Norris @er_norris00 PRICE: $23,300,000 SF: 76,674 ~ PPSF: $303.88 UNITS: 104 PPU: $224,038 NOTE: Allocated pricing, properties sold as a portfolio.

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245 South Serrano Avenue & 5405 Lindley Avenue

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