VF Developments Acquires Multifamily Property In Boyle Heights For $1M With Broker Daniel Baril
1023 Tremont Street, Central LA, Los Angeles, CA, USA
$1,000,000
$246/SF
Building Size
4,051 SF
Asset Type
MultiFamily
Closing
Nov 14, 2019
AI
A multifamily property located at 1023 Tremont St in Boyle Heights has been sold for a price of $1,000,000. The property spans across 4,051 square feet and has a price per square foot of $246. It consists of 5 units, resulting in a price per unit of $200,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Square Footage: 4,051
- Price Per Square Foot: $246
- Number of Units: 5
- Price Per Unit: $200,000
The buyer of the property is VF Developments, while the seller is Manuel D Reyes. The deal was facilitated by Daniel Baril from Iconic Investments, who represented both the buyer and the seller. The listing attracted numerous competitive offers, showcasing the appeal of the property in the market.
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93