HVN Development Acquires Multifamily Property In North Hollywood For $5.3 Million From George Gelsebach
SOLD
$5,300,000
California
See Similar DealsMultiFamily14,244 SF
Sold 07/11/2025
SOLD
HVN Development Acquires Multifamily Property In North Hollywood For $5.3 Million From George Gelsebach
11143 Acama Street
See Similar DealsMultiFamily14,244 SF
Sold 07/11/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$372
Total Square Footage:14,244 SF
Transaction Type:Sale
A multifamily asset comprising 18 units has been sold for $5,300,000, located at 11143, 11147, and 11153 Acama Street in North Hollywood. The total square footage of the property is 14,244, resulting in a price per unit of $294,444 and a price per square foot of $372. The property is situated on a 27,000 SF land assemblage and is zoned LAR3.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,300,000
- Units: 18
- Square Footage: 14,244
- Price per Unit: $294,444
- Price per Square Foot: $372
- Buyer: Tommy Beadel - HVN Development
- Seller: George Gelsebach
- Broker: David Saghian - Lyon Stahl Investment Real Estate
David Saghian of Lyon Stahl Investment Real Estate represented both the buyer, Tommy Beadel of HVN Development, and the seller in this off-market transaction. The buyer intends to develop a 131-unit multifamily project on the acquired site.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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