Updated Dec 13, 2024
Jay Lin Acquires Multifamily Property From Jonathan Gerberian For $4.65 Million In Los Angeles
10833 Rose Avenue
$4,650,000
$422/SF
Building Size
11,016 SF
Asset Type
MultiFamily
Closing
Nov 27, 2024
About this deal
AI
10833 Rose Avenue is a multifamily property located in Los Angeles, featuring 10 units. The asset spans 11,016 square feet and was sold for a transaction amount of $4,650,000, resulting in a price per unit of $465,000 and a price per square foot of $422.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,650,000
- Units: 10
- Square Footage: 11,016
- Price Per Unit: $465,000
- Price Per Square Foot: $422
- Buyer: Jay Lin
- Seller: Jonathan Gerberian
- Buyer's Representatives: Fred Nabati & Michael Davoodpour - Trimax Realty & Loan
- Transaction Date: 11/27/2024
- Market: Los Angeles
Trimax Realty successfully assisted Jay Lin in the transaction by facilitating a 1031 Exchange that allowed him to transition from a $4.5 million single-family home to this $4.65 million multifamily property. This strategic move is noted to significantly enhance returns and mitigate risks through diversified tenants.
On the Map
$4,650,000
$422/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.41%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93