Los Angeles Multifamily Property Sells for $9.6 Million
523 South Westmoreland Avenue, Los Angeles, CA, USA MultiFamily property sold for $9.6 million.
The multifamily property located at 523 South Westmoreland Avenue in Los Angeles, CA has sold for 9.6 million. The property consists of 10,200 square feet and was sold for 938 per square foot. The sale was completed on November 20, 2018.
The buyer and seller have not been disclosed. However, the deal was brokered by Sean Rosenzweig.
The property is located in the Westlake neighborhood of Los Angeles. Westlake is a densely populated area with a mix of residential and commercial properties. The neighborhood is known for its historic architecture and diverse population.
The property is located near several major transportation routes, including the 101 and 110 freeways. It is also within walking distance of several public transportation options, including the Westlake/MacArthur Park Metro Station.
The sale of this property is indicative of the strong demand for multifamily properties in Los Angeles. The city has seen a surge in population growth in recent years, which has led to a shortage of affordable housing. As a result, investors are eager to acquire multifamily properties in the city.
Overall, the sale of this multifamily property in Westlake is a positive sign for the Los Angeles commercial real estate market. With strong demand for multifamily properties and a growing population, the market is poised for continued growth in the coming years.