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11/25/19
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A 10-unit, brand-new 2019 construction apartment property in L.A.’s Mid-City area was acquired by an out of area buyer in a $6.83 mil transaction. The deal came in a cap rate of 4.4%, a GRM of 15.62 and a price of $683.5k per unit.
Located at 1545 S. Fairfax Ave, south of Pico Blvd and east of La Cienega Blvd, the four-story, 12.7k sf building boasts large, two- and three-bedroom apartments. The property features in-unit washer/dryers, controlled access, balconies, an elevator and 17 subterranean parking spaces.
Dario Svidler, Morgan McMullin, and Shaya Braverman with Partners CRE/Compass Commercial represented the seller, Hamlet Melkomians, the building developer. Cray Carlson and Kevin Sin with CBRE repped the buyer.
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