Updated Dec 21, 2023
Jeff Damavandi Acquires West Hollywood Multifamily Portfolio For $3.9M
1108 North Vista Street, West Hollywood, California 90046, United States
$3,900,000
$427/SF
Building Size
9,121 SF
Asset Type
MultiFamily
Closing
Nov 23, 2021
About this deal
AI
The multifamily property located at 1108-1114 N. Vista and 1257 N. Vista in West Hollywood has been sold. The sale was completed on November 23, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $3,900,000
- Number of Units: 13
- Price per Unit: $300,000
- Square Footage: 9,121
- Price per Square Foot: $427
- Market: West Hollywood
The buyer of the property is Jeff Damavandi, while the seller is Nobuo Iha. The transaction was facilitated by brokers Jordan Asheghian and Tony Azzi from Marcus & Millichap.
This sale involved a portfolio of properties. The 1108-1114 N. Vista consists of 10 units, while the 1257 N. Vista St has 3 units. Both properties were sold concurrently to the same buyer. The sale price resulted in a blended 22x Gross Rent Multiplier (GRM) and a 2.5% Capitalization Rate (Cap Rate).
Players
West Hollywood 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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93