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Avi Shlanger Acquires Multifamily Property On Palms Blvd. In Mar Vista For $9.9M

Property Image
SOLD
$9,900,000

California

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MultiFamily25,688 SF
Sold 05/02/2022
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Property Image
SOLD

Avi Shlanger Acquires Multifamily Property On Palms Blvd. In Mar Vista For $9.9M

11265 Palms Boulevard, Los Angeles, California 90066, United States

See Similar Deals
MultiFamily25,688 SF
Sold 05/02/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$385
Total Square Footage:25,688 SF
Transaction Type:Sale

Located at 11265-75 Palms Blvd. in Mar Vista, this multifamily property was recently sold in a closed transaction. The sale took place on 05/02/2022 and the deal was facilitated by broker Sam Liberow from The Liberow Group at Marcus & Millichap. The property consists of 24 units with a total square footage of 25,688. The sale price for this transaction was $9,900,000, resulting in a price per unit of $412,500 and a price per square foot of $385.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,900,000
  • Units: 24
  • Price per Unit: $412,500
  • Square Footage: 25,688
  • Price per Square Foot: $385
  • Market: Mar Vista
  • Buyer: Avi Shlanger
  • Seller: Jim Gortikov
  • Broker: Sam Liberow (The Liberow Group) - Marcus & Millichap

This transaction showcases the successful collaboration between buyer Avi Shlanger and seller Jim Gortikov. The deal was facilitated by Sam Liberow from The Liberow Group at Marcus & Millichap. This sale highlights the demand for multifamily properties in the Mar Vista market, with a price per unit of $412,500 and a price per square foot of $385. The property's prime location, spacious square footage, and attractive sale price contribute to its appeal in the current real estate market.

Players

Sam Liberow
105 deals$762.3M volume
BROKER

Details

SOLD
IMAGE: Sam Liberow DATE: 05/02/2022 ADDRESS: 11265-75 Palms Blvd. MARKET: Mar Vista ASSET TYPE: Multifamily BUYER: Avi Shlanger SELLER: Jim Gortikov BROKER: Sam Liberow (@Sam_Liberow) (The Liberow Group) (@TheLiberowGroup) - Marcus & Millichap (@MarcusMillichapLosAngeles) SALE PRICE: $9,900,000 UNITS: 24 ~ PPU: $412,500 SF: 25,688 ~ PPSF: $385

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$528,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
Annual Debt Service$563,172.61