Michael D. Seltzer Acquires Multifamily Property On S. Sherbourne Drive For $7.2M
SOLD
$7,200,000
California
See Similar DealsMultiFamily22,913 SF
Sold 09/08/2021
SOLD
Michael D. Seltzer Acquires Multifamily Property On S. Sherbourne Drive For $7.2M
1020 South Sherbourne Drive, Los Angeles, CA 90035, USA
See Similar DealsMultiFamily22,913 SF
Sold 09/08/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$314
Total Square Footage:22,913 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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