Los Angeles Multifamily Property Trades for $4.9 Million

Raymundo Investments has acquired a 19-unit multifamily property in North Hills, Los Angeles, from LACM for 4.9 million. The property spans 15,326 square feet and was sold for 318 per square foot. The deal was brokered by Rick Raymundo and Roberto Narchi of Marcus & Millichap.

The property, located at 15216 Nordhoff St, is situated in a desirable area of North Hills and is in close proximity to major transportation routes and amenities. The 19 units consist of 14 one-bedroom and five two-bedroom apartments, with an average unit size of 807 square feet.

Raymundo Investments, a Los Angeles-based real estate investment firm, has been actively acquiring multifamily properties in the Los Angeles area. The acquisition of this property aligns with the firm’s strategy of acquiring well-located properties with value-add potential.

LACM, the seller, is a Los Angeles-based real estate investment firm that specializes in the acquisition and management of multifamily properties in the Los Angeles area.

The deal was brokered by Rick Raymundo and Roberto Narchi of Marcus & Millichap, a leading commercial real estate brokerage firm. The brokers have extensive experience in the Los Angeles multifamily market and were able to secure a favorable deal for both the buyer and seller.

Overall, the acquisition of this multifamily property in North Hills is a positive sign for the Los Angeles multifamily market. Despite challenges such as rising interest rates and a lack of affordable housing, demand for multifamily properties in the Los Angeles area remains strong. Investors like Raymundo Investments are continuing to see value in the market and are actively seeking out well-located properties with value-add potential.