Michael Cohanzad Purchases Multifamily Property At 11920 Montana Avenue For $5.145M With Michael Monempour’s Representation
SOLD
$5,145,000
California
See Similar DealsMultiFamily13,244 SF
Sold 11/15/2024
SOLD
Michael Cohanzad Purchases Multifamily Property At 11920 Montana Avenue For $5.145M With Michael Monempour’s Representation
11920 Montana Avenue
See Similar DealsMultiFamily13,244 SF
Sold 11/15/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$388
Total Square Footage:13,244 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 11920 Montana Avenue in the Los Angeles market. The sale price was $5,145,000, encompassing a total of 10 units within a square footage of 13,244. The price per unit was recorded at $514,500, while the price per square foot stood at $388.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,145,000
- Units: 10
- Price Per Unit: $514,500
- Square Footage: 13,244
- Price Per Square Foot: $388
- Buyer: Michael Cohanzad
- Seller: Sheila Schwartz & Corinne Corwin
- Buyer’s Representative: Michael Monempour - Lyon Stahl Investment Real Estate
This transaction highlights a notable achievement, with the highest price per unit of $514,500 for a Rent Stabilized Ordinance (RSO) building within the 90049 Zipcode in 2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$274,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,279.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,389.92
Annual Debt Service$292,679.10
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