Glendale Multifamily Property Sells for $2.7M
Brett Tobin purchases a 6-unit multifamily property in Glendale from Hansin Singh for $2.675M
Brett Tobin, a real estate investor, has purchased a 6-unit multifamily property located at 501 Raleigh Street in Glendale from Hansin Singh for 2.675M. The property was listed for 2.7M and sold for 25,000 below the asking price. The property consists of 5,792 square feet and each unit has an average price per unit of 445,833. The price per square foot is $462.
The property is located in Glendale, a city in Los Angeles County, California. Glendale is known for its vibrant downtown area, which features a variety of restaurants, shops, and entertainment options. The city is also home to several parks and recreational areas, including Brand Park and Deukmejian Wilderness Park.
The buyer, Brett Tobin, is a real estate investor who has been active in the Los Angeles market for several years. Tobin has a portfolio of multifamily properties throughout the city, and this acquisition adds to his holdings in the area.
The seller, Hansin Singh, is a local real estate investor who has owned the property for several years. Singh has been active in the Glendale market and has a portfolio of properties in the area.
The deal was brokered by Elizabeth Clark and Kirtley Baker of Douglas Elliman. Clark and Baker are experienced brokers who specialize in multifamily properties in the Los Angeles area. They were able to negotiate a deal that was $25,000 below the asking price, which is a testament to their expertise in the market.
Overall, this deal represents a solid investment opportunity for Brett Tobin. The property is located in a desirable area of Glendale and has a strong rental history. With the help of Clark and Baker, Tobin was able to acquire the property at a favorable price and add to his portfolio of multifamily properties in the Los Angeles market.