CBRE Represents Both Buyer And Seller In $70M Multifamily Sale On Ocean Avenue

Located in the heart of Los Angeles, the multifamily property at 301 Ocean Avenue has recently been sold for a staggering amount. With a sale price of $70,000,000, this transaction represents a significant investment in the city's real estate market.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $70,000,000
• Address: 301 Ocean Avenue
• Market: Los Angeles

Handling the transaction on behalf of the buyer was Eric Chen from CBRE. Meanwhile, the seller was represented by Laurie Lustig-Bower and Kamran Paydar, also from CBRE. Their expertise and industry knowledge played a crucial role in ensuring a successful deal.

Spanning over an impressive 37,989 square feet, the property consists of 38 units, each offering spacious and comfortable living spaces. With an average price per unit of $1,842,105, this sale sets a benchmark in the market. The price per square foot was also strikingly high at $1,842, reflecting the desirability and value of this investment.