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37 Saint James Place, Los A...

Phil Lin Acquires USC Student Housing For $3.15M With Keller Williams Beverly Hills Brokers
SOLD

Phil Lin Acquires USC Student Housing For $3.15M With Keller Williams Beverly Hills Brokers

37 Saint James Place, Los Angeles, California 90007, United States

$3,150,000

$420/SF

Building Size

7,500 SF

Asset Type

Closing

Jan 5, 2022

AI

The student housing property located at 1189 W. 37th Pl. and 1422 W. 29th St. has been sold in a transaction within the USC Student Housing market. The property spans 7,500 square feet and was sold for a total price of $3,150,000, resulting in a price per square foot of $420. The sale took place on January 5, 2022.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: $3,150,000
  • Address: 1189 W. 37th Pl. & 1422 W. 29th St.
  • Market: USC Student Housing
  • Buyer: Phil Lin
  • Seller: Gary Kopel
  • Brokers: Davis Saadian & Adam Shamooelian - Keller Williams Beverly Hills

The sale was facilitated by Davis Saadian and Adam Shamooelian of Keller Williams Beverly Hills, who represented the buyer and seller, respectively. Phil Lin acted as the buyer in the transaction, while Gary Kopel served as the seller. The transaction demonstrates the strong demand for student housing within the USC market.

Players

Adam Shamooelian

Keller Williams Realty

Broker

$20M

vol

5 deals

Broker
Compass
CompassBrokerage

Phil Lin

Buyer

$18.2M

vol

5 deals

Buyer

Los Angeles CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93