Kidder Mathews is pleased to announce the sale of 252 S. New Hampshire Avenue, a 19-unit multifamily property in Los Angeles, for $4,237,000.
The company’s Mark Ventre, Darin Beebower, and Dakoda Iversen represented 252 New Hampshire Investors, LLC in selling the property to New Hampshire, LLC.
Located in a desirable Koreatown area, the New Hampshire Avenue property offers good walkability to Vons, Ralph’s, Starbucks, and various restaurants. The largely stabilized asset provides an attractive going-in cash flow with significant upside potential, featuring 11 out of 19 units renovated with high-end finishes.
This sale marks the highest price per unit in 2024 for properties of similar size and vintage in the area, and the highest price per square foot since October 2022.
“Despite the challenges posed by high interest rates when we first listed the property in September 2023, we successfully navigated the obstacles by remarketing the building in January 2024. With this strategic shift, we were able to achieve an extraordinary outcome for our client. This deal highlights the tenacity and patience required in today’s market,” said Ventre.
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages more than 55 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually.
