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.