MARCUS & MILLICHAP BROKERS THREE MULTIFAMILY SALES FOR $5.9 MILLION

LOS ANGELES AND HOLLYWOOD, CALIF. — Marcus & Millichap has brokered the sales of three Los Angeles-area multifamily properties for a total of approximately $5.8 million. First, the firm completed the sale of a 24-unit apartment building, located at 7621-7627 South Broadway, for $1.9 million. Josh Cohen and Tom Watkins of Marcus & Millichap’s Long Beach, Calif., office represented both undisclosed parties in the transaction. Nate Bascom, also of the Long Beach office, provided additional assistance on the buyer side. Cohen & Watkins also represented both sides in the disposition of a 12-unit apartment building located at 4214 S. Hoover Street in Los Angeles. Both parties were undisclosed. The property traded at a price of $672,000, or $154 per square foot. Finally, Marcus & Millichap’s Long Beach office brokered the sale of a 15-unit apartment building, located at 1401-1407 Havenhurst Dr. in West Hollywood, for $3.3 million. Marcus & Millichap’s Steve Soqui represented the seller, while Brendan Erickson, also with the firm, represented the buyer. In addition, Michael Derk with Marcus & Millichap’s Capital Markets group secured acquisition financing for the property in the amount of $2.15 million.