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1019 Albany Street, Central...

Elijah Korobkin And Maxx Feldman Acquire Multifamily In Pico Union For $3.8M
SOLDMultiFamily

Elijah Korobkin And Maxx Feldman Acquire Multifamily In Pico Union For $3.8M

1019 Albany Street, Central LA, Los Angeles, CA, USA

$3,825,000

$241/SF

Building Size

15,870 SF

Asset Type

MultiFamily

Closing

Dec 9, 2019

AI

A multifamily property located at 1019 Albany St and 1412 W 10th Pl in Pico Union has been sold for a price of $3,825,000. The property spans approximately 15,870 square feet, resulting in a price per square foot of $241.02. It consists of 27 units, making the price per unit $141,667.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,825,000
  • Square Footage: 15,870
  • Price per Square Foot: $241.02
  • Number of Units: 27
  • Price per Unit: $141,667

Elijah Korobkin and Maxx Feldman of The Goldfinger Group acted as the buyers in this transaction. The Goldfinger Group, represented by their broker Henry Garcia of KW Commercial, has recently acquired this asset and is actively seeking more properties in Pico Union and the surrounding areas.

Players

Henry Garcia

Pivot Commercial Group

Broker

$21.3M

vol

3 deals

Broker
Maxx Feldman

Maxx Feldman

The Goldfinger Group

Buyer

$59.3M

vol

17 deals

Buyer
The Goldfinger Group
The Goldfinger GroupBuyer

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.15%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93