Jonathan Nikfarjam of CBC Advisors Brokers Transaction
Los Angeles, CA (June 12, 2017) — Coldwell Banker Commercial Advisors’ (CBC Advisors) El Segundo Office announced that Jonathan Nikfarjam, Managing Principal, represented the seller and arranged the sale of a 20-unit multifamily complex at 14015 Budlong Avenue in Gardena, CA. The Gardena apartments sold to an out-of-state 1031 exchange Buyer for $4,670,000. The $233,500 per unit price closed at over $282 per rentable square foot, a 13.94 gross rent multiplier and a 4.58% cap rate.
“There are very few 20-unit properties that are selling in Gardena and the demand for non-rent controlled, B/C class product, that provides cash-flow and positive leverage, has increased significantly, far outweighing the available supply,” said Nikfarjam. “Our clients are receiving unsolicited offers mailed to their homes and these owners often reach out to us to explore the legitimacy of these offers and evaluate how they can capitalize on the sharp increase in their equity positions and property value.”
Nikfarjam specializes in multi-family investment sales throughout Southern California with an emphasis in the Los Angeles County and South Bay cities. Over the past few years, Nikfarjam has been ranked amongst the most active South Bay multifamily agents, leading the charts with other high-priced sales.