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10351 Wilshire Boulevard

Sean Daneshgar Acquires Utama Royale Multifamily Complex Near Beverly Hills For $28M
SOLDMultiFamily

Sean Daneshgar Acquires Utama Royale Multifamily Complex Near Beverly Hills For $28M

10351 Wilshire Boulevard

$28,000,000

Building Size

Asset Type

MultiFamily

Closing

Feb 22, 2024

AI

The property involved in the transaction is Utama Royale, an 18-unit luxury apartment complex located at 10351 Wilshire Boulevard in Los Angeles. The sale price of the asset was $28,000,000, with a price per unit of $1,555,556. The upscale amenities and prime location near The Los Angeles Country Club and Rodeo Drive were highlighted by CBRE, the seller's representative, in the deal.

Summary of transaction details:

Sean Daneshgar purchased the luxury apartment complex from Devonshire Delaware. The brokers involved in the deal were Kamran Paydar and Laurie Lustig-Bower from CBRE, along with Barbara Duskin from Carolwood Estates. The property's proximity to The Los Angeles Country Club and Rodeo Drive added significant value to the transaction.

Players

Laurie Lustig Bower

CBRE

Broker

$566.4M

vol

18 deals

Broker

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

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93