Updated Oct 29, 2024
Housing Authority Of Los Angeles Acquires Long Term Stay Hotel In Los Angeles For $35.1M
1044 North Soto Street
$35,135,000
$1,071/SF
Building Size
32,806 SF
Asset Type
Hotel
Closing
Aug 1, 2023
About this deal
AI
A long-term stay hotel located at 1044 North Soto Street in Los Angeles has been sold for a total price of $35,135,000. The property spans across 32,806 square feet, resulting in a price per square foot of $1,071.
Summary of transaction details
- Property Type: Long Term Stay Hotel
- Transaction Amount: $35,135,000
- Square footage: 32,806
- Price per square foot: $1,071
- Address: 1044 North Soto Street
- Market: Los Angeles
The buyer of the property is the Housing Authority Of Los Angeles, while the seller is Amar Patel. The broker responsible for facilitating the transaction is Sam Liberow from The Liberow Group at Marcus & Millichap.
Market Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93