Taljon Holdings LLC Acquires Multifamily Property In Miracle Mile For $4.45M
SOLD
$4,450,000
California
See Similar DealsMultiFamily11,967 SF
Sold 07/02/2019
SOLD
Taljon Holdings LLC Acquires Multifamily Property In Miracle Mile For $4.45M
1053 1/2 South Genesee Avenue, Los Angeles, CA, USA
See Similar DealsMultiFamily11,967 SF
Sold 07/02/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$371
Total Square Footage:11,967 SF
Transaction Type:Sale
A multifamily property located at 1041-1053 1/2 Genesee Avenue in Miracle Mile was recently sold for a price of $4,450,000. The property spans across 11,967 square feet, resulting in a price per square foot of $371.86. The transaction took place on 07/02/2019.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,450,000
- Square Footage: 11,967
- Price per Square Foot: $371.86
- Address: 1041-1053 1/2 Genesee Avenue
- Market: Miracle Mile
Taljon Holdings LLC acquired the property from Michael Custer. Jason Tuvia and Josh Yeager represented the buyer and seller respectively in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$237,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,809.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,095.27
Annual Debt Service$253,143.24
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