Matthew Portnoff Acquires Multifamily Property In West Hollywood For $6.4M
SOLD
$6,400,000
California
See Similar DealsMultiFamily15,317 SF
Sold 04/29/2022
SOLD
Matthew Portnoff Acquires Multifamily Property In West Hollywood For $6.4M
1241 North Crescent Heights Boulevard, West Hollywood, California 90046, United States
See Similar DealsMultiFamily15,317 SF
Sold 04/29/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$417
Total Square Footage:15,317 SF
Transaction Type:Sale
A multifamily property located at 1241 N. Crescent Heights Blvd. in West Hollywood has been sold for $6,400,000. The property consists of 16 units with a total area of 15,317 square feet. The sale price per unit was $400,000, and the price per square foot was $417.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,400,000
- Address: 1241 N. Crescent Heights Blvd., West Hollywood
- Market: West Hollywood
- Buyer: Matthew Portnoff
- Seller: Josephine Powell Trust
- Buyer's Rep: Leslie Haro & Jonathan Mogharrabi - Compass
- Units: 16
- Price per Unit: $400,000
- Total Area: 15,317 square feet
- Price per Square Foot: $417
Leslie Haro and Jonathan Mogharrabi from Compass represented the buyer, Matthew Portnoff, in this transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$341,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,737.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,339.27
Annual Debt Service$364,071.18
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