Northmarq brokers $2 million sale of garden-style apartments in Los Angeles
LOS ANGELES (May 15, 2024) — Northmarq’s Los Angeles Multifamily Investment Sales team of Elliot Hassan, Mike Hanassab and Steven Goldstein successfully brokered the sale of an 8-unit multifamily community in Los Angeles for $2 million. Located at 822 North Hayworth Avenue in the Beverly Grove neighborhood, the garden-style apartments were built in 1924.
Northmarq represented the seller, The Haines Family Trust, a Southern California-based private investor. The buyer, a Los Angeles-based private investor, was also represented by Northmarq.
“The asset was owned by the Haines family for over 20 years. It was delivered with two vacant units which will allow the new owner to capitalize on the rental demand of this highly sought-out Beverly Grove pocket of Los Angeles,” said Hassan.
822 North Hayworth Avenue boasts an ideal location with immediate access to cultural landmarks, shopping, dining, and major employers. The multifamily community offers one-bedroom, one-bath apartment homes averaging 600 sq. ft. Residents enjoy a Walker’s Paradise (94 Walk Score) with three shopping centers, including Melrose Heights, within a 9-minute walk.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
