SOLDMultiFamily
Standard Communities Acquires Multifamily Property In Los Angeles From Jefferson Southgate For $130M
10930 Garfield Ave, South Gate, California 90280, United States
$130,000,000
$520/SF
Building Size
250,000 SF
Asset Type
MultiFamily
Closing
May 19, 2022
AI
The multifamily property located at 10930 Garfield Ave in Los Angeles has been sold. The transaction took place on May 20, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Units: 244
- Price Per Unit: $532,786
- Square Feet: 2,500,000
- Price Per Square Foot: $52
The buyer of the property is Standard Communities, while the seller is Jefferson Southgate. The deal was facilitated by brokers Dean Zander and Stew Weston from CBRE.
Players
South Gate 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93