On January 15th Wolf Baschung, CCIM, CPM closed the sale of a 7 town home, 7,057 sf multifamily complex located at 7721 St Bernard St, Playa del Rey, CA. The property traded at $2,050,000 or $292,857 per unit and 13.64 times the annual income. Built in 1962, the complex consists of six 2 bed/1.5 bath two level town homes and one 2bed/2bath unit. Wolf Baschung, President of MW Real Estate Group, represented buyer and seller in this transaction.
On January 18th Wolf Baschung also closed the first of a USC student housing portfolio consisting of six separate 1920’s properties under 5 units being sold in a short sale. The first, a small duplex close to North University Park with 7 USC student rooms, sold for $230,000. Wolf Baschung, CCIM, CPM also represented both buyer and seller in this transaction.
Source: MW Realty LA Blog