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Snowy Lee Acquires Mar Vista Multifamily For $4.4M From Seller Edward A. Holmen

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SOLD
$4,400,000

California

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MultiFamily5,502 SF
Sold 02/22/2022
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Property Image
SOLD

Snowy Lee Acquires Mar Vista Multifamily For $4.4M From Seller Edward A. Holmen

11538 National Boulevard, Los Angeles, California 90064, United States

See Similar Deals
MultiFamily5,502 SF
Sold 02/22/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$799
Total Square Footage:5,502 SF
Transaction Type:Sale

Located at 11538 National Blvd in Mar Vista, this multifamily property was recently sold for $4,400,000. The transaction took place on February 22, 2022. The property consists of 8 units, with an average price per unit of $550,000. The total square footage of the property is 5,502, resulting in a price per square foot of $799.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,400,000
  • Address: 11538 National Blvd.
  • Market: Mar Vista
  • Buyer: Snowy Lee
  • Seller: Edward A. Holmen
  • Broker: Dittany Zhang Seltzer - Berkshire Hathaway HomeServices California Properties
  • Units: 8
  • Price per Unit: $550,000
  • Square Footage: 5,502
  • Price per Square Foot: $799

Dittany Zhang Seltzer from Berkshire Hathaway HomeServices California Properties represented both the buyer, Snowy Lee, and the seller, Edward A. Holmen, in this transaction. The involvement of a broker adds an extra layer of expertise and professionalism to the deal.

Players

Dittany Zhang Seltzer
4 deals$31.4M volume
BROKER

Details

SOLD
IMAGE: Dittany Zhang Seltzer DATE: 02/22/2022 ADDRESS: 11538 National Blvd. MARKET: Mar Vista ASSET TYPE: Multifamily BUYER: Snowy Lee SELLER: Edward A. Holmen BROKER: Dittany Zhang Seltzer (@DeeZSeltzer) - Berkshire Hathaway HomeServices California Properties (@BHHSCalifornia) SALE PRICE: $4,400,000 UNITS: 8 ~ PPU: $550,000 SF: 5,502 ~ PPSF: $799

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

$234,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94