Janone Development Secures $16.6M Construction Loan For Multifamily Property On S. Hobart Blvd
SOLD
$16,600,000
California
See Similar DealsMultiFamily57,964 SF
Sold 11/20/2020
SOLD
Janone Development Secures $16.6M Construction Loan For Multifamily Property On S. Hobart Blvd
1100 South Hobart Boulevard, Los Angeles, CA, USA
See Similar DealsMultiFamily57,964 SF
Sold 11/20/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$286
Total Square Footage:57,964 SF
Transaction Type:Sale
The multifamily property located at 1100-1110 S. Hobart Blvd in Los Angeles has been involved in a recent transaction. The property spans 0.43 acres and has a building square footage (BSF) of 57,964. The transaction involved a construction loan amounting to $16,600,000. The lender of the loan was Pakview Financial, represented by Paul Rahimian. The landlord in this transaction was Janone Development.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,600,000
- Lot Size: 0.43 Acres
- BSF: 57,964
Pakview Financial, under the representation of Paul Rahimian, provided the construction loan for the property. Janone Development acted as the landlord in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$885,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,976.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,692.47
Annual Debt Service$944,309.63
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