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1137 West 29th Street

Jerry Wise Acquires Multifamily Property On W 29th St, Los Angeles For $4.3M
SOLDMultiFamily

Jerry Wise Acquires Multifamily Property On W 29th St, Los Angeles For $4.3M

1137 West 29th Street

$4,300,000

$688/SF

Building Size

6,250 SF

Asset Type

MultiFamily

Closing

Nov 28, 2022

AI

A multifamily property located at 1137 W 29th St in Los Angeles, CA has been sold in a recent transaction. The property consists of 6 units and spans a total area of 6,250 square feet. The sale price for this property was $4,300,000, which corresponds to a price per unit of $716,667 and a price per square foot of $688.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,300,000
  • Units: 6
  • Price per Unit: $716,667
  • Square Footage: 6,250
  • Price per Square Foot: $688

Jerry Wise has purchased the property from Taeko Lei. The transaction was facilitated by Petra Sebestyen, Davis Saadian, and Damaso Andres Lara. These brokers represented the Davis Saadian Group & Aaron Kirman Group under the collaboration of DSG x AKG.

Players

Davis Saadian

Carolwood Estates

Broker

$86.6M

vol

17 deals

Broker
Jerry Wise

Jerry Wise

Buyer

$52.4M

vol

7 deals

Buyer

Taeko Lei

Seller

$51.9M

vol

6 deals

Seller

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.69%

Cash-on-Cash

-1.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93