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3/28/18
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A three-building multifamily portfolio totaling 20 units in LA’s Pico-Robertson area sold for $5.85 mil, or about $292k per unit. The properties are located at 8508 Cashio St, 8528 Cashio St and 8521 Horner St, a block west of La Cienega Blvd. and a couple of blocks south of Pico Blvd.
The properties had been owned by the same family for more than 42 years. This was the first time these assets had been offered for sale. The properties received numerous multiple competing offers.
8508 Cashio Street, consisting of six units, and 8521 Horner St, consisting of eight units, were both built in the 1920’s and feature all one-bedroom/one-bath units. 8528 Cashio St, which was constructed in 1956, features a combination of both one- and two-bedroom units.
Rich Johns and David Weinberger of KW Commercial represented the buyer, a Los Angeles-based private investor, and the seller, a family trust based in Northern California, in the transaction.
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