Matthew Portnoff Acquires Multifamily Property In West Hollywood For $6.4M
1241 North Crescent Heights Boulevard, West Hollywood, California 90046, United States
$6,400,000
$417/SF
Building Size
15,317 SF
Asset Type
MultiFamily
Closing
Apr 28, 2022
AI
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
West Hollywood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93