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Jerry Wise Acquires Multifamily Property In Downtown Los Angeles, CA For $3.5M

Property Image
SOLD
$3,500,000
Lara Alnaser
Davis Saadian
+ 2

California

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MultiFamily4,575 SF
Sold
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Property Image
SOLD

Jerry Wise Acquires Multifamily Property In Downtown Los Angeles, CA For $3.5M

1175 W 29th St Los Angeles, CA 90007, USA

See Similar Deals
MultiFamily4,575 SF
Sold
Lara Alnaser
Davis Saadian
+ 2
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$765
Total Square Footage:4575 SF
Transaction Type:Sale

A multifamily property located at 1175 W 29th St in Downtown Los Angeles, CA has been sold for $3,500,000. The property consists of 6 units with a total square footage of 4,575. The price per unit is approximately $583,333 and the price per square foot is around $765.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $3,500,000
  • Units: 6
  • Price per Unit: $583,333
  • Square Footage: 4,575
  • Price per Square Foot: $765

The buyer of the property is Jerry Wise, while Taeko Lei is the seller. The sale was facilitated by Petra Sebestyen, Davis Saadian, and Lara Alnaser, representing the Davis Saadian Group and Aaron Kirman Group.

Players

Davis Saadian
17 deals$86.6M volume(310) 909-5500
BROKER

Petra Sebestyen
4 deals$17.1M volume
BROKER

Lara Alnaser
2 deals$8.5M volume(310) 490-2181
BROKER


Jerry Wise
7 deals$52.4M volume
BUYER

Details

SOLD
IMAGE: Petra Sebestyen, Davis Saadian & Lara Alnaser DATE: 12/05/2022 ADDRESS: 1175 W 29th St MARKET: Downtown Los Angeles, CA ASSET TYPE: Multifamily BUYER: Jerry Wise SELLER: Taeko Lei BROKERS: Petra Sebestyen (@Petra_Sebestyen), Davis Saadian (@DavisSaadian) & Lara Alnaser (@Lara_Alnaser_RealEstate) - Davis Saadian Group | Aaron Kirman Group SALE PRICE: $3,500,000 UNITS: 6 ~ PPU: $583,333 SF: 4,575 ~ PPSF: $765

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
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