Updated Nov 22, 2023
Hotel In North Hollywood Sells For $10.45M With Brokers Josh Yammer, Sarhan Mheni, & Steven Schechter
12600 Riverside Drive, North Hollywood, CA, USA
$10,450,000
$375/SF
Building Size
27,847 SF
Asset Type
Hotel
Closing
Nov 27, 2018
About this deal
AI
The sale of a hotel located at 12600 Riverside Drive in North Hollywood was recently completed. The transaction took place on November 28, 2018, with a sale price of $10,450,000. The hotel consists of 58 units, with a price per unit (PPU) of $180,172. The property has a cap rate of 6.0% and a RRM (Residential Rental Market) of 5.0. The deal was facilitated by brokers Josh Yammer, Sarhan Mheni, and Steven Schechter.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $10,450,000
- Address: 12600 Riverside Drive, North Hollywood
- Market: North Hollywood
- Units: 58
- PPU: $180,172
- CAP: 6.0%
- RRM: 5.0
The sale was coordinated by brokers Josh Yammer, Sarhan Mheni, and Steven Schechter. They played a key role in facilitating the transaction, bringing together the buyer and seller to successfully complete the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.52%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93