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Steven Levine & Triny Levine Purchase Multifamily Property In South Los Angeles

542 West 76th Street
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This MultiFamily property located in CA was sold for $1,325,000 over 1 year ago. The brokers of the deal were Deborah (Debby) Perkins, Jordan Epstein, Filip (Fil) Niculete, and Glen Scher

Located in South Los Angeles, the multifamily property at 542 W. 76th St. has been sold in a closed transaction. The property consists of six units, with a total square footage of 4,128. The sale price was recorded at $1,325,000, resulting in a price per square foot of $320. The property was sold with significant deferred maintenance and achieved a capitalization rate of 4.60% and a gross rent multiplier of 12.56.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,325,000
  • Units: 6
  • Price per Unit: $220,833
  • Square Footage: 4,128
  • Price per Square Foot: $320
  • Capitalization Rate: 4.60%
  • Gross Rent Multiplier: 12.56

The buyer of the property is Steven Levine and Triny Levine, while the seller is Ron Mayer. Representing the buyer was Debby Perkins from Corcoran Global Living, and representing the seller were Jordan Epstein, Filip Niculete, and Glen Scher from Marcus & Millichap. This transaction generated a total of 10 offers before the sale, showcasing the market's interest in the property despite its deferred maintenance.

Note from the broker: This property in South LA attracted significant attention, with a total of 10 offers being generated. The sale price of $1,325,000 reflects the demand for the property, even with its existing deferred maintenance. With a price per square foot of $320.98 and a price per unit of $220,833, this transaction achieved a capitalization rate of 4.60% and a gross rent multiplier of 12.56.

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Deals
  • Location
    542 West 76th Street, Los Angeles, California 90044, United States542 West 76th Street, Los Angeles, California 90044, United States
  • Sale Price
    $1,325,000$1,325,000
    $321 PPSF$321 PPSF
  • Area
    4,128 SF4,128 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Deborah (Debby) Perkins

Deborah (Debby) Perkins

Deals1
Sold$1.3M

Glen Scher

Glen Scher

Deals161
Sold$624.5M

Agencies

The Corcoran Group

The Corcoran Group

Agency
Deals476
Volume$7B

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Filip Niculete, Glen Scher, Jordan Epstein & Debby Perkins DATE: 07/07/2022 ADDRESS: 542 W. 76th St. MARKET: South Los Angeles ASSET TYPE: Multifamily BUYER: Steven Levine & Triny Levine SELLER: Ron Mayer BUYER'S REP: Debby Perkins - Corcoran Global Living SELLER'S REP: Jordan Epstein (@Spawlding), Filip Niculete (@FNiculete) & Glen Scher (@ScherGlen) (LAAA Team) (@LAAATeam) - Marcus & Millichap SALE PRICE: $1,325,000 UNITS: 6 ~ PPU: $220,833 SF: 4,128 ~ PPSF: $320 GRM: 12.56 CAP: 4.60% NOTE FROM BROKER: 6 Units | South LA Generated 10 Total Offers Sold with Significant Deferred Maintenance Sold at $1,325,000 $320.98 per SqFt $220,833 per Unit 4.60% CAP Rate 12.56 GRM

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542 West 76th Street

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