2140 Reservoir Street

Jason Tuvia and his team just closed on a 7-unit multifamily property in Echo Park, Los Angeles. The property had never been to market and was owned by the original developer’s family. A majority of the tenants were long-term and had very low rents at the time of sale. Tuvia brought the Buyer who is a private investor and has worked with the Tuvia Group several times in the past. Selling at just under list price, the Seller achieved a 3.84% cap rate and a 14.02 GRM utilizing the Tuvia Group in an uncertain time in the market just a month before the general November election which includes vacancy control under ‘Proposition 33’. The Buyer saw the risk as an opportunity to buy while there is a good amount of supply on

the market.