Robert H. Blumenfield Acquires 50-Unit Multifamily Property In Los Angeles For $31M
SOLD
$31,000,000
California
See Similar DealsMultiFamily64,578 SF
Sold 03/15/2023
SOLD
Robert H. Blumenfield Acquires 50-Unit Multifamily Property In Los Angeles For $31M
12221 West San Vicente Boulevard
See Similar DealsMultiFamily64,578 SF
Sold 03/15/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$480
Total Square Footage:64,578 SF
Transaction Type:Sale
The multifamily property located at 12221 West San Vicente Boulevard in Los Angeles has been sold in a closed transaction. The property consists of 50 units with a total square footage of 64,578. The sale price for this transaction was $31,000,000, resulting in a price per unit of $620,000 and a price per square foot of $480.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Units: 50
- Price per Unit: $620,000
- Square Footage: 64,578
- Price per Square Foot: $480
- Address: 12221 West San Vicente Boulevard, Los Angeles
The buyer in this transaction is Robert H. Blumenfield, while the sellers are Joseph Smurda and Stephen Smurda. The deal was brokered by Jonathan (Jon) Taksa from Taksa Investment Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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