Han Widjaja Chen's GIG Team Sells 62-Unit Hollywood Multifamily For $16.7M
7070 Franklin Avenue
35,378 SF
Summary
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.
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