1047 Irolo St

The Tuvia Group successfully closed 1047 Irolo Street, a 20-unit multifamily property in Koreatown, for $2,150,000 at the full list price after generating multiple competitive offers. The value-add buyer acquired the property with no appraisal or loan contingency, while the team helped secure three loans at a 6.50% interest rate. With two vacant units ready for immediate renovation and approximately 45% rental upside, the property offered significant repositioning potential. The seller, after more than 30 years of ownership, will complete a 1031 exchange into single-tenant NNN real estate.