A.J. Khair Development & Construction Acquires Hollywood Heights Multifamily Property from Richard Agron for $5.3M

A.J. Khair Development & Construction purchases a 15,313 square foot multifamily property in Hollywood Heights for $5.3 million from Richard Agron.

By skyrealm.ai on Oct 30, 2021
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A.J. Khair Development & Construction Acquires Hollywood Heights Multifamily Property from Richard Agron for $5.3M

A.J. Khair Development & Construction, a prominent real estate development and construction firm, has recently completed the acquisition of a multifamily property in Hollywood Heights. The property, located at 1931 Wilcox Ave., spans 15,313 square feet and consists of 21 units. The sale price for the property was 5.3 million, resulting in a price per square foot of 346. The buyer, A.J. Khair Development & Construction, is known for its expertise in developing and constructing high-quality residential and commercial properties. The seller, Richard Agron, is a seasoned real estate investor with a portfolio of properties in the Los Angeles area. The transaction was facilitated by Jason Tuvia of the Tuvia Group, a leading real estate brokerage firm in Los Angeles. Tuvia represented both the buyer and the seller in the deal, showcasing his ability to navigate complex transactions and deliver successful outcomes for his clients. The Hollywood Heights market, where the property is located, is a highly sought-after neighborhood known for its vibrant entertainment scene and proximity to major attractions. The acquisition of this multifamily property by A.J. Khair Development & Construction further solidifies the company’s presence in the Hollywood Heights market and demonstrates its commitment to investing in prime real estate opportunities. With a price per unit of $252,380, the acquisition presents a promising investment opportunity for A.J. Khair Development & Construction, allowing the company to capitalize on the strong demand for rental housing in the area. The multifamily property offers a mix of unit sizes and layouts, catering to a diverse range of tenants. Its prime location provides convenient access to popular dining, shopping, and entertainment destinations, making it an attractive choice for renters. A.J. Khair Development & Construction plans to leverage its expertise in property development and management to enhance the value of the asset and maximize returns. The company has a track record of delivering exceptional properties that meet the needs of modern residents, and this acquisition aligns with its strategic growth objectives. As the demand for multifamily housing continues to rise in Los Angeles, A.J. Khair Development & Construction is well-positioned to capitalize on the market dynamics and generate strong returns on its investment. The acquisition of the Hollywood Heights multifamily property marks another milestone for the company and reinforces its position as a leading player in the Los Angeles real estate market.