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Elliot Nayssan Acquires 18-Unit Multifamily In Los Angeles For $10.2M

Property Image
SOLD
$10,200,000
Elliot Sabag
Jeff Louks
+ 2

California

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MultiFamily24,217 SF
Sold 03/22/2023
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Property Image
SOLD

Elliot Nayssan Acquires 18-Unit Multifamily In Los Angeles For $10.2M

1222 Amherst Avenue

See Similar Deals
MultiFamily24,217 SF
Sold 03/22/2023
Elliot Sabag
Jeff Louks
+ 2
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$421
Total Square Footage:24,217 SF
Transaction Type:Sale

Located at 1222 Amherst Avenue in Los Angeles, this multifamily property has been sold in a recent transaction. The property spans a total of 24,217 square feet and consists of 18 units. The sale price for this transaction was $10,200,000, resulting in a per unit price of $566,667. The price per square foot came out to be $421.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,200,000
  • Address: 1222 Amherst Avenue, Los Angeles
  • Units: 18
  • Price per Unit: $566,667
  • Total Square Footage: 24,217
  • Price per Square Foot: $421

Elliot Nayssan acquired the property from Deepak Mehta. Representing the buyer in this transaction was Elliot Sabag, Hamid Soroudi, and Jeff Louks from Marcus & Millichap.

Players

Jeff Louks
33 deals$337.6M volume(310) 941-5899
BROKER

Hamid Soroudi
7 deals$74M volume(310) 432-6547
BROKER

Elliot Sabag
Marcus & Millichap
12 deals$82.1M volume
BROKER

Deepak Mehta
29 deals$380.5M volume(310) 383-3331
BROKER

Details

SOLD
IMAGE: Deepak Mehta DATE: 03/22/2023 ADDRESS: 1222 Amherst Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Elliot Nayssan SELLER: Deepak Mehta (@Thedeepakmehta) BROKERS: Elliot Sabag, Hamid Soroudi & Jeff Louks - Marcus & Millichap (@MarcusMillichapLosAngeles) SALE PRICE: $10,200,000 UNITS: 18 ~ PPU: $566,667 SF: 24,217 ~ PPSF: $421

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

$544,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45