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

Property Image
SOLD
$3,825,000
Henry Garcia
Maxx Feldman

California

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MultiFamily15,870 SF
Sold 12/10/2019
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Property Image
SOLD

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

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

See Similar Deals
MultiFamily15,870 SF
Sold 12/10/2019
Henry Garcia
Maxx Feldman
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$241
Total Square Footage:15,870 SF
Transaction Type:Sale

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
Henry Garcia
3 deals$21.3M volume(818) 309-3935
BROKER
Maxx Feldman
The Goldfinger Group
Maxx Feldman
17 deals$59.3M volume
BUYER
The Goldfinger Group
The Goldfinger Group
BUYER

Details

SOLD
IMAGE: Elijah Korobkin @eli21kor & Maxx Feldman @thegoldfingergroup DATE: 12/10/2019 ADDRESS: 1019 Albany St & 1412 W 10th Pl MARKET: Pico Union ASSET TYPE: Multifamily PRICE: $3,825,000 SF: 15,870 PPSF: $241.02 UNITS: 27 PPU: $141,667 BUYER: Elijah Korobkin @eli21kor, Maxx Feldman - The Goldfinger Group @thegoldfingergroup BROKER: Henry Garcia - KW Commercial NOTES: TGG just acquired this asset and is actively looking to purchase more properties in Pico Union and surrounding areas.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$204,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,589.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,132.45
Annual Debt Service$217,589.42