Kiowa Olive LP Acquires Brentwood Multifamily From Claire Mullen Family Trust For $4.2M
SOLD
$4,200,000
California
See Similar DealsMultiFamily9,190 SF
Sold 07/30/2020
SOLD
Kiowa Olive LP Acquires Brentwood Multifamily From Claire Mullen Family Trust For $4.2M
11927 Kiowa Ave, Sawtelle, Los Angeles, CA, USA
See Similar DealsMultiFamily9,190 SF
Sold 07/30/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$457
Total Square Footage:9,190 SF
Transaction Type:Sale
The multifamily property located at 11927 Kiowa Ave in Brentwood has been sold. The transaction took place on 07/30/2021 between the buyer, Kiowa Olive LP, and the seller, Claire Mullen Family Trust. The property consists of 9 units, with a total square footage of 9,190. The asking price and sale price for this transaction were both $4,200,000. The price per unit is $466,666, and the price per square foot is $457. The Gross Rent Multiplier (GRM) for this property is 17.2x, and the Capitalization Rate (CAP) is 4.06%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Address: 11927 Kiowa Ave
- Market: Brentwood
Michael Monempour and David Saghian served as the brokers for this transaction, representing both the buyer and the seller. They facilitated the deal between Kiowa Olive LP and Claire Mullen Family Trust.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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