Los Angeles Multifamily Property Trades for $4.7 Million in Glendale
An 18-unit multifamily property located at 139 N Belmont St in Glendale, LA, has been sold for $4.7 million.
A multifamily property located in Glendale, Los Angeles, has been sold for $4.7 million. The 18-unit property, located at 139 N Belmont St, was sold by an undisclosed seller and purchased by an undisclosed buyer. The sale was facilitated by Greg Alexanian, a Los Angeles-based real estate broker.
The property spans 11,590 square feet and has a price per square foot of 405.52. The 18 units have a price per unit of 261,111. The property is located in Glendale, a city in Los Angeles County that is known for its vibrant downtown area and proximity to major highways and public transportation.
The sale of this property is indicative of the strong demand for multifamily properties in the Los Angeles area. With a growing population and a limited supply of housing, multifamily properties are becoming increasingly attractive to investors. The Glendale area, in particular, has seen a surge in demand for multifamily properties due to its central location and access to major employment centers.
Greg Alexanian, the broker who facilitated the sale, has extensive experience in the Los Angeles real estate market. He specializes in the sale of multifamily properties and has a proven track record of success. His expertise and knowledge of the market were instrumental in securing a successful sale for both the buyer and seller.
Overall, the sale of this Glendale multifamily property is a testament to the strength of the Los Angeles real estate market. With demand for multifamily properties on the rise, investors are increasingly turning to this asset class as a way to generate strong returns and build wealth over the long term.