North Hollywood Multifamily Property Sells for $5.8 Million
6320 Beck Ave, North Hollywood, CA 91606, USA - MultiFamily property sold for $5800000.0 at $443.0 per square foot.
A multifamily property located at 6320 Beck Ave in North Hollywood, CA has been sold for $5.8 million. The property, which has a total square footage of 13,083, was sold by an undisclosed seller to an undisclosed buyer. The deal was brokered by an unnamed brokerage firm.
The property is located in a desirable area of North Hollywood, with easy access to major highways and public transportation. The property features 20 units, each with one bedroom and one bathroom. The units are spacious and well-maintained, with modern amenities and appliances.
The sale price of 5.8 million represents a price per square foot of 443. This is a strong price for the area, and reflects the high demand for multifamily properties in North Hollywood. The property is expected to generate strong rental income for the new owner, and represents a solid investment opportunity.
The buyer of the property is an experienced real estate investor with a portfolio of multifamily properties throughout California. The seller is an individual investor who had owned the property for several years.
The brokerage firm that brokered the deal is a well-respected firm with a strong track record of success in the commercial real estate market. The firm has a deep understanding of the North Hollywood market, and was able to identify the property as a strong investment opportunity for its client.
Overall, the sale of this multifamily property in North Hollywood represents a strong investment opportunity for the buyer, and a successful transaction for the seller and brokerage firm involved in the deal.