Northland Acquires Multifamily Property In Los Angeles For $504M
SOLD
$504,000,000
California
See Similar DealsMultiFamily
Sold 08/11/2022
SOLD
Northland Acquires Multifamily Property In Los Angeles For $504M
1000 West 8th Street, Los Angeles, California 90017, United States
See Similar DealsMultiFamily
Sold 08/11/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1000 West 8th Street in Los Angeles, CA has been sold for a total price of $504,000,000. The transaction took place on 11/08/2022. The property consists of 685 units, resulting in a price per unit of $735,766. The buyer in this deal is Northland, represented by Matthew Gottesdiener. The seller is Greenland Holdings Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $504,000,000
- Date: 11/08/2022
- Address: 1000 West 8th Street, Los Angeles, CA
- Units: 685
- Price per Unit: $735,766
- Buyer: Northland - Matthew Gottesdiener
- Seller: Greenland Holdings Group
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$26,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,790,605.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,389,217.13
Annual Debt Service$28,670,605.55
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