Bijan Stein Acquires Multifamily Property In West Hollywood For $5.01M
SOLD
$5,010,000
California
See Similar DealsMultiFamily9,184 SF
Sold 12/28/2023
SOLD
Bijan Stein Acquires Multifamily Property In West Hollywood For $5.01M
1215 North Sweetzer Avenue
See Similar DealsMultiFamily9,184 SF
Sold 12/28/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$545
Total Square Footage:9,184 SF
Transaction Type:Sale
The multifamily property located at 1215 North Sweetzer Avenue in West Hollywood has been sold in a closed transaction. The property consists of 9 units with a total square footage of 9,184. The sale price was $5,010,000, resulting in a per unit price of $556,667. The price per square foot was $546, and the property's capitalization rate is 5.04%. The gross rent multiplier (GRM) is 13.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,010,000
- Units: 9
- Price per Unit: $556,667
- Square Footage: 9,184
- Price per Square Foot: $546
- Capitalization Rate: 5.04%
- Gross Rent Multiplier (GRM): 13
The buyer of the property was Bijan Stein, while the seller was Deepak Richard Mehta. The broker representing both the buyer and seller in this transaction was Michael Monempour from Lyon Stahl Investment Real Estate.
NOTE FROM BROKER: Property sold off market with assumable financing of 3.15% interest only with approximately 26 months remaining.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$267,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,799.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,749.96
Annual Debt Service$284,999.47
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