09/02/2026
is pleased to announce the successful closing of 117 S Avenue 64 (The Marq), a 24-unit multifamily asset in the highly desirable Highland Park submarket of Los Angeles.
Built in 1989 and not subject to LARSO, the property offered a highly desirable unit mix of 16 one-bedroom units and eight two-bedroom units, appealing to a broad range of renter profiles.
The transaction closed at $258,958 per unit ($455/SF), reflecting a 6.56% CAP rate and 9.44 GRM, underscoring sustained investor demand for well-located, non-RSO multifamily product in Northeast Los Angeles.
Through a disciplined marketing process, our team generated strong interest from qualified buyers and secured 7 competitive offers, ultimately identifying a 1031 exchange buyer to deliver a smooth, certain path to closing.
Our team successfully navigated a due diligence challenge involving uninsurable electrical panels, working proactively to resolve the issue and keep the transaction on track.
The Neema Group represented both the seller and the buyer in the transaction, ensuring seamless ex*****on and full alignment throughout to achieve an optimal outcome for all parties.
💼 Exclusively listed by Neema Ahadian & Jeffrey Estrada Jeffrey Estrada
📱Contact us at (310) 909-5444 for more details