Updated Oct 29, 2024
Brian Asheghian Represents 6923 Kittyhawk Partners, L.P. In $6.7M Multifamily Acquisition Via Continental Partners Inc
6923 Kittyhawk Ave, Los Angeles, CA 90045, USA
$6,700,000
$274/SF
Building Size
24,445 SF
Asset Type
MultiFamily
Closing
Apr 28, 2020
About this deal
AI
The multifamily property located at 6923 Kittyhawk Ave in Westchester has recently been involved in a closed transaction. The property spans a total of 24,445 square feet and consists of 25 units.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $6,700,000
- Market: Westchester
- Lender: Continental Partners Inc.
- Landlord: 6923 Kittyhawk Partners, L.P.
- Broker: Brian Asheghian @ContiPartners
In this deal, Continental Partners Inc. acted as the lender, providing a loan amount of $6,700,000. The loan terms include a 7-year fixed rate with a 30-year term. For the first 5 years, the borrower will only need to pay interest. The interest rate is set at 3.25%. The loan is non-recourse and features a stepdown prepayment structure.
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
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93