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:
- Property Type: Multifamily
- Transaction Amount: $28,000,000
- Units: 18
- Address: 10351 Wilshire Boulevard, Los Angeles
- Market: Los Angeles
- Buyer: Sean Daneshgar
- Seller: Devonshire Delaware
- Brokers: Kamran Paydar, Laurie Lustig-Bower - CBRE; Barbara Duskin - Carolwood Estates
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
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