facebook
Traded Co logo
Submit a Deal

Jamshid Niknam Acquires 8-Unit Multifamily In West LA From Conrad Moller

1261 Stoner Avenue
PointingArrow
ShareContact

This MultiFamily property located in CA was sold for $8,990,000 over 2 years ago. The brokers of the deal were Parham Khoshbakhtian, Jenny Eng, Glen Scher, and Filip (Fil) Niculete

Located at 1261 Stoner Ave in West Los Angeles, this multifamily property was sold in a closed transaction on December 2, 2021. The property, built in 2019 by Conrad Moller of Dansk Investment Group, Inc, offers 8 units with a total square footage of 11,485. The sale price for this property was $8,990,000, resulting in a price per unit of $1,112,500 and a price per square foot of $774. The Gross Rent Multiplier (GRM) for this transaction was 18.32x, and the Capitalization Rate (CAP) was 3.52%. It is worth noting that this sale achieved the highest price per unit ever recorded in West LA.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,990,000
  • Address: 1261 Stoner Ave.
  • Market: West Los Angeles

The buyer of this property was Jamshid Niknam, while the seller was Conrad Moller. The deal was facilitated by multiple brokers, including Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap, Jenny Eng from CBRE, and Parham Khoshbakhtian from Bruin Capital. Notably, the sale price of $1,112,500 per unit and the price per square foot of $774 contributed to a remarkable transaction that achieved a 3.52% CAP and an 18.32 GRM.

Achieving the highest price per unit ever recorded in West LA, this multifamily property at 1261 Stoner Ave exemplifies a successful investment opportunity in the market. Led by Conrad Moller of Dansk Investment Group, Inc., the construction of this property in 2019 proved to be a lucrative venture.

View Related

Deals
  • Location
    1261 Stoner Ave, Los Angeles, CA, USA1261 Stoner Ave, Los Angeles, CA, USA
  • Sale Price
    $8,990,000$8,990,000
    $782 PPSF$782 PPSF
  • Area
    11,485 SF11,485 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Parham Khoshbakhtian

Parham Khoshbakhtian

Deals1
Sold$9M

Glen Scher

Glen Scher

Deals161
Sold$624.5M

Agencies

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

Social

Deal Summary

SALE IMAGE: Conrad Moller, Glen Scher, Filip Niculete, Parham Khoshbakhtian & Jenny Eng DATE: 12/02/2021 ADDRESS: 1261 Stoner Ave. MARKET: West Los Angeles ASSET TYPE: Multifamily BUYER: Jamshid Niknam SELLER: Conrad Moller (@Con_am) BROKERS: Filip Niculete (@FNiculete) & Glen Scher (@ScherGlen) (LAAA Team) (@LAAATeam) - Marcus & Millichap, Jenny Eng - CBRE & Parham Khoshbakhtian - Bruin Capital SALE PRICE: $8,990,000 UNITS: 8 ~ PPU: $1,112,500 SF: 11,485 ~ PPSF: $774 GRM: 18.32x CAP: 3.52% NOTE FROM BROKER: Sold for Over $1.1M per Unit! Highest Price per Unit Ever in West LA Selling Numbers: $1,123,750 per Unit $782.76 per SqFt 3.52% CAP. 18.32 GRM Built in 2019 by Conrad Moller of Dansk Investment Group, Inc

Comparables


We could not find what you were looking for, try a different filter

Contact

Broker's profile image

1261 Stoner Avenue

  • Social

  • Comparables

  • Contact

  • Share


  • Login to Suggest Edits