Northmarq’s El Segundo office brokers $3.025M sale of 27-unit Los Angeles multifamily property
EL SEGUNDO, Calif. (May 29, 2024) — Northmarq’s El Segundo Multifamily Investment Sales team of Brent Sprenkle, Alex Peterson and Parker Boehle has completed the sale of 301 S. Boyle Avenue, a 27-unit multifamily property in Los Angeles, for $3.025 million. Built in 1908, the low-rise apartments offer studio and one-bedroom apartment homes minutes from Downtown Los Angeles.
Northmarq represented the seller, 301 S Boyle Ave LLC, and the buyer was Sater Development Strategies.
“The property was by definition a value-add opportunity as it was a completely unrenovated building in original condition situated in one of the fasted gentrifying neighborhoods in Los Angeles, Boyle Heights. The buyer assumed the existing Chase financing which had a below market interest rate, said Sprenkle.
The 27-unit multifamily community is ideally situated in Southeast Los Angeles, with easy access to the 110 Freeway. Residents enjoy close proximity to Downtown Los Angeles, Hollywood and Beverly Hills, as well as beautiful beaches, nature trails and major employers. Additionally, the property is less than a 6-minute drive from the University of Southern California, Health Sciences Campus and The Fashion Institute.
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