Friday, April 19, 2013

Charles Dunn Co. Completes $1.95 Million Sale Multifamily Property in Los Angeles




                                    1616 South Bundy Street, West Los Angeles, CA

Kimberly Roberts Stepp
LOS ANGELES, CA, April 19, 2013 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $1.95 million sale of a 7-unit multifamily property located at 1616 South Bundy near the major cross street of Santa Monica Blvd. in West Los Angeles.

Kimberly Roberts Stepp of Charles Dunn Company represented the seller, 1616 South Bundy, LLC from Los Angeles. The buyer was Judmarc, LLC from Los Angeles and was represented by Hamid Soroudi. The closing cap rate was 4.8 percent. 

“This property was on the market for just one week,” said Soroudi. “With current rental vacancy rates at two to three percent and very little inventory on the Westside, pricing for multifamily properties is very strong and available properties are hotly contested.”

Hamid Soroudi
Soroudi and Stepp are part of Charles Dunn Company’s Soroudi Group, the most successful and active group of brokers involved in selling and exchanging of prime Westside properties. Their marketing program delivers sold properties at more than 98.5 percent of the list prices within a compressed marketing period.

 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

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