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Multifamily Property On McClellan Drive Sold For $8.52 Million With Jonathan Taksa As The Broker

Property Image
SOLD
$8,524,375

California

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MultiFamily13,861 SF
Sold 07/30/2024
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Property Image
SOLD

Multifamily Property On McClellan Drive Sold For $8.52 Million With Jonathan Taksa As The Broker

1248 Mcclellan Drive

See Similar Deals
MultiFamily13,861 SF
Sold 07/30/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$615
Total Square Footage:13,861 SF
Transaction Type:Sale

A 17-unit multifamily property located at 1248-1242 McClellan Drive in Los Angeles, California, has been sold for $8,524,375. The property, built in 1987, encompasses 13,861 square feet, which results in a price per square foot of $615. The average price per unit is calculated at $501,434. Additionally, the property is exempt from LA's Rent Stabilization Ordinance and features modern upgrades with ample parking.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,524,375
  • Units: 17
  • Square Footage: 13,861
  • Price Per Unit: $501,434
  • Price Per Square Foot: $615
  • Address: 1248-1242 McClellan Drive
  • Market: Los Angeles
  • Broker: Jonathan Taksa - Taksa Investment Group

Jonathan Taksa, representing Taksa Investment Group, facilitated the transaction, highlighting his role in managing the sale of this multifamily asset in a sought-after location near Brentwood.

Players

Jonathan (Jon) Taksa
Taksa Investment Group
Jonathan Taksa
61 deals$593.3M volume
BROKER

Details

SOLD
IMAGE: Jonathan Taksa DATE: 07/30/2024 ADDRESS: 1248-1242 Mcclellan Drive MARKET: Los Angeles ASSET TYPE: Multifamily BROKER: Jonathan Taksa (@JTaksa) - Taksa Investment Group (@TaksaInvestmentGroup) SALE PRICE: $8,524,375 UNITS: 17 ~ PPU: $501,434 SF: 13,861 ~ PPSF: $615 NOTE: A 17-unit multifamily property on McClellan Drive in Los Angeles sold for $8.52 million, with an average price per unit of $501,434. Built in 1987 and located near Brentwood, the property features modern upgrades, ample parking, and is exempt from LA's Rent Stabilization Ordinance, making it a prime investment opportunity in a sought-after location.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$454,633.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,285.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,409.89
Annual Debt Service$484,918.64