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Ramin Mesriani Acquires Multifamily Property On North Sweetzer Avenue For $2.7M

Property Image
SOLD
$2,700,000

California

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MultiFamily6,484 SF
Sold 12/22/2022
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Property Image
SOLD

Ramin Mesriani Acquires Multifamily Property On North Sweetzer Avenue For $2.7M

107 North Sweetzer Avenue

See Similar Deals
MultiFamily6,484 SF
Sold 12/22/2022
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$416
Total Square Footage:6,484 SF
Transaction Type:Sale

The multifamily property located at 107 North Sweetzer Avenue in Los Angeles has been sold for $2,700,000. The property consists of 8 units with a price per unit of $337,500. It spans across 6,484 square feet, resulting in a price per square foot of $416.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Units: 8
  • Price per Unit: $337,500
  • Square Footage: 6,484
  • Price per Square Foot: $416
  • Address: 107 North Sweetzer Avenue
  • Market: Los Angeles

The buyer of the property is Ramin Mesriani, while the sellers are Charlotte Meyer and Alan Meyer. The deal was facilitated by the brokers Darin Spillman from Kidder Mathews and Rich Johns from KW Commercial.

Players

Darin Spillman
15 deals$55.2M volume(310) 592-8269
BROKER

Rich Johns
Keller Williams Realty
3 deals$17.2M volume(818) 432-1575
BROKER

Details

SOLD
IMAGE: Rich Johns & Darin Spillman DATE: 12/22/2022 ADDRESS: 107 North Sweetzer Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Ramin Mesriani SELLER: Charlotte Meyer & Alan Meyer BROKERS: Darin Spillman (@Darinspillmankidder) - Kidder Mathews (@Kidder.Mathews); Rich Johns - KW Commercial (@KW.Commercial) (@KW_Commercial) SALE PRICE: $2,700,000 UNITS: 8 ~ PPU: $337,500 SF: 6,484 ~ PPSF: $416

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53