**LA Multifamily Portfolio Surmounts Challenges, Trades for $25.25 Million**
Marcus & Millichap has completed the sale of a seven-property multifamily portfolio comprising 275 units in the Koreatown and Westlake neighborhoods of Los Angeles. The portfolio was sold for $25.25 million.
“Assembled and managed by a private ownership group over the past 25 years, the portfolio was experiencing challenges, including tenant delinquencies, aging building systems, deferred maintenance, and litigation,” said Neema Ahadian, Senior Managing Director Investments and leader of The Neema Group of Marcus & Millichap in Los Angeles. “We anticipated buyer concerns, prepared comprehensive due diligence materials, and positioned the properties both individually and collectively to maximize investor interest and demonstrate a clear path forward.”
Ahadian and Jeffrey Estrada, Associate Director of The Neema Group, represented the seller and procured the buyer. “Closing the sale required a direct approach to due diligence and constant communication with all stakeholders,” Estrada noted. “By addressing issues early and keeping the process moving, we were able to achieve a clean, timely closing in a market where many transactions are stalling.”
