Updated Oct 28, 2024
O.Z. Navigator Acquires Multifamily Property In Downtown Los Angeles For $29.1M
1317 South Grand Avenue, Los Angeles, California 90015, United States
$29,100,000
$431/SF
Building Size
67,456 SF
Asset Type
MultiFamily
Closing
Apr 6, 2022
About this deal
AI
Located at 1317 South Grand Avenue in Downtown Los Angeles, this multifamily property spans over 67,456 square feet. The transaction took place on April 7, 2022, and the property was acquired under the ownership of O.Z. Navigator represented by Peter Nitze. The property comprises 147 units, making it an attractive investment opportunity in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $29,100,000
- Lender: Trez Capital
- Landlord: O.Z. Navigator - Peter Nitze
- Loan Type: Construction
- Units: 147
Trez Capital provided a construction loan amounting to $29,100,000 for the acquisition of this multifamily property on South Grand Avenue. The loan will facilitate the development and improvement of the property to further enhance its appeal and value in the market. With O.Z. Navigator, represented by Peter Nitze, as the landlord, the transaction showcases their commitment to expanding and enhancing their real estate portfolio in Downtown Los Angeles.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93