Updated Oct 28, 2024
McMullin Drake Investments Acquires Multifamily Property In Hawthorne For $3M
11430 Cedar Avenue, Hawthorne, California 90250, United States
$3,000,000
$303/SF
Building Size
9,896 SF
Asset Type
MultiFamily
Closing
May 11, 2022
About this deal
AI
This sale transaction involves a multifamily property located at 11430 Cedar Ave. in Hawthorne. The property spans a total of 9,896 square feet with 12 units, resulting in a price per square foot of $303. The sale price for the property was $3,000,000, translating to a price per unit of $250,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Units: 12
- Price per Unit: $250,000
- Square Footage: 9,896
- Price per Square Foot: $303
The buyer in this transaction is McMullin Drake Investments LLC, represented by Morgan McMullin and Bo Drake. They acquired the property from the Laretto Family Trust. The broker involved in the deal was John Katnik from James Capital Advisors.
Players
Hawthorne MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit John Katnik to view all their deals.
Browse California multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93