 |
| Kimberly Roberts Stepp |
Los Angeles,
CA – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles
market, has completed the $2.79 million sale of a fully occupied seven-unit
property ideally located adjacent to The Grove at 156-160 South Hayworth Avenue
in Los Angeles.
Kimberly Roberts Stepp, principal, with Stepp Commercial,
represented the buyer, a private investor from Los Angeles. The seller was a
Los Angeles-based family trust. The transaction closed at a cap rate of just
3.6 percent.
“This
property offers the buyer an upside in rents, the opportunity to add value
through upgrading units, and a coveted location near The Grove and at the end
of a residential tree-lined street,” said Stepp.
Built in
1936, the two-story property consists of a rare unit mix that includes a
three-bedroom penthouse with elevator, one three-bedroom unit, two two-bedroom
units, and three one-bedroom units.
For a
complete copy of the company’s news release, please contact:
Darcie
Giacchetto
D.G.
Communications, Inc.
949.278.6224
No comments:
Post a Comment