Updated Oct 28, 2024
LA Apartments Acquires Westside Multifamily Portfolio For $30M
11735 Culver Boulevard, Los Angeles, California 90066, United States
$30,000,000
Units
99
Asset Type
MultiFamily
Closing
Feb 14, 2022
About this deal
AI
The multifamily property located at 11735 Culver Blvd., 11964 Lindblade St., 4316 Berryman Ave., 2712 Abbot Kinney Blvd., 711 & 715 Machado Drive & 450 S. Venice Blvd. was recently sold on the Westside market. The property consists of 99 units and was sold for a total price of $30,000,000, resulting in a per unit price of $303,030.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Units: 99
- Price per Unit (PPU): $303,030
The buyer in this transaction was LA Apartments. The deal was facilitated by brokers Kevin Green, Joseph Grabiec, and Greg Harris from Institutional Property Advisors, who represented LA Apartments. Additionally, Peter Castleton from Voit Real Estate Services was involved in the deal as well.
On the Map
$30,000,000
MultiFamily
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Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93