Sagiv Rosano Acquires 37-Unit Multifamily Property On S. Lake Street In Westlake For $5.36M
SOLD
$5,360,000
California
See Similar DealsMultiFamily20,460 SF
Sold 07/16/2021
SOLD
Sagiv Rosano Acquires 37-Unit Multifamily Property On S. Lake Street In Westlake For $5.36M
1214 South Lake Street, Central LA, Los Angeles, CA, USA
See Similar DealsMultiFamily20,460 SF
Sold 07/16/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$262
Total Square Footage:20,460 SF
Transaction Type:Sale
The multifamily property located at 1214 S. Lake Street in Westlake has been sold in a closed transaction. The property consists of 37 units with a total square footage of 20,460. The sale price for this transaction was $5,360,000, resulting in a price per unit of $144,864 and a price per square foot of $261. The deal was closed with a capitalization rate (CAP) of 4.04%.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,360,000
- Address: 1214 S. Lake Street
- Market: Westlake
- Units: 37
- Price per Unit: $144,864
- Square Footage: 20,460
- Price per Square Foot: $261
- Capitalization Rate (CAP): 4.04%
The buyer for this transaction is Sagiv Rosano, while the seller is Peter Larsen. The deal was facilitated by brokers Neema Ahadian and Leo Laterza.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,042.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,409.13
Annual Debt Service$304,909.61
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