Newmark Group announced on September 26, 2024, the $16.15 million sale of the Westside Trio multifamily portfolio in West Los Angeles. The portfolio, comprising 38 units, sold for a blended price per unit of $425,000 and $573 per square foot.
The offering included properties at 1823 N. Fuller Ave. in Los Angeles, 8730-8736 Holloway Drive in West Hollywood, and 1335-1351 Manhattan Beach Blvd. in Manhattan Beach. Newmark's team, including Co-Head of U.S. Capital Markets Kevin Shannon, represented the seller, Chishima Real Estate, with SLH Investments as the buyer.
This transaction highlights the continued demand from private buyers for well-priced assets in high-quality locations within the Greater Los Angeles market. The urban infill assets provide a robust tenant base and offer the buyer opportunities for future growth.
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