1316 & 1322 S Centinela Ave Los Angeles, CA 90025
Multifamily Development on Centinela
SOLD: $6,262,500 CAP RATE: 5.35% GRM: 11.13 PRICE PER SQUARE FOOT: $353
We are pleased to announce the sale of 1316 & 1322 South Centinela Avenue a well located 20 unit multifamily asset in the West Los Angeles market. The property sold for $6,262,500 which equates to $313,125 per unit and $353 per square foot based on a total building size of 17,718 square feet. At closing the asset reflected a 5.5% cap rate and an 11.00 GRM.
The building was originally constructed and owned by the original developer demonstrating long term pride of ownership and consistent operational stability. This transaction marks a successful repositioning opportunity for the buyer while preserving strong in place income fundamentals.
David Saghian represented the buyer in the transaction underscoring continued investor demand for quality multifamily assets in highly desirable West Los Angeles submarkets. If you would like this converted into investment highlights as well just let me know.
Investment Highlights
20 unit multifamily asset sold for $6,262,500 reflecting a 5.5% cap rate an 11 GRM and $313,125 per unit
Total building size of 17,718 square feet equating to $353 per square foot
Sold by the original developer highlighting strong long term ownership and pride of construction
Attractive value proposition in a high demand West Los Angeles rental corridor
Buyer represented by David Saghian with a strategic acquisition focused on stable income and long term upside
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com