Russell Berney Acquires Brentwood Multifamily For $37.5M With Jonathan Taksa's Taksa Investment Group
SOLD
$37,500,000
California
See Similar DealsMultiFamily59,071 SF
Sold 06/30/2022
SOLD
Russell Berney Acquires Brentwood Multifamily For $37.5M With Jonathan Taksa's Taksa Investment Group
11677 Goshen Avenue, Los Angeles, California 90049, United States
See Similar DealsMultiFamily59,071 SF
Sold 06/30/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$634
Total Square Footage:59,071 SF
Transaction Type:Sale
The multifamily property located at 11677 & 11683 Goshen Avenue in Brentwood has been sold for a total of $37,500,000. The sale, which took place on June 30, 2022, involved 68 units with an average price per unit of $551,470. The property spans a total square footage of 59,071, resulting in a price per square foot of $635.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $37,500,000
- Units: 68
- Price Per Unit: $551,470
- Square Footage: 59,071
- Price Per Square Foot: $635
- Market: Brentwood
Russell Berney has purchased the property from Jeffrey Nemoy. The transaction was facilitated by Jonathan Taksa of Taksa Investment Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$133,229.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$177,769.13
Annual Debt Service$2,133,229.58
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