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LOS ANGELES — Marcus & Millichap has arranged the sale of 2900 Francis Avenue, a multifamily property located in Los Angeles’ Koreatown neighborhood. An undisclosed seller sold the asset to a private investor for $2.2 million, or $225,000 per unit.
Jason Tuvia and Joshua Yeager of Marcus & Millichap represented the seller and secured the buyer in the transaction.
Built in 1922, the value-add property features 10 one-bedroom/one-bath apartments that are subject to Los Angeles’ rent control laws.