Michael D. Seltzer Acquires Multifamily Property On S. Sherbourne Drive For $7.2M
1020 South Sherbourne Drive, Los Angeles, CA 90035, USA
$7,200,000
$314/SF
Building Size
22,913 SF
Asset Type
MultiFamily
Closing
Sep 8, 2021
AI
A multifamily property located at 1020 S. Sherbourne Drive in Beverlywood was recently sold for a price of $7,200,000. The transaction took place on September 8, 2021. The property consists of 21 units, with an average price per unit of $342,857. The total square footage of the property is 22,913, resulting in a price per square foot of $314. The sale was facilitated by Jonathan Taksa from Taksa Investment Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,200,000
- Address: 1020 S. Sherbourne Drive
- Market: Beverlywood
- Buyer: Michael D. Seltzer
- Seller: James Fung
- Broker: Jonathan Taksa - Taksa Investment Group
The buyer, Michael D. Seltzer, successfully acquired the property from the seller, James Fung. The transaction was overseen by Jonathan Taksa of Taksa Investment Group.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93