Updated Oct 29, 2024
Freddie Mac & Housing Authority Of The City Of Los Angeles Provide $58M Loan For Watts Multifamily Property
9800 Grape Street, Watts, Los Angeles, CA, USA
$58,000,000
Units
92
Asset Type
MultiFamily
Closing
Mar 31, 2020
About this deal
AI
Located at 9800 Grape St in Watts, this multifamily property recently closed a transaction. The property consists of 92 units and was sold for a loan amount of $58,000,000. The deal was financed by Freddie Mac and the Housing Authority of the City of Los Angeles. The property is owned by The Michaels Organization and BRIDGE Housing.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Address: 9800 Grape St
- Market: Watts
- Lender: Freddie Mac & Housing Authority of the City of Los Angeles
- Landlord: The Michaels Organization & BRIDGE Housing
- Units: 92
The loan was facilitated by David Brickman.
On the Map
$58,000,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93