Paul Ling Acquires Multifamily Portfolio In Hawthorne For $26.5M
SOLD
$26,500,000
California
See Similar DealsMultiFamily79,618 SF
Sold 05/20/2022
SOLD
Paul Ling Acquires Multifamily Portfolio In Hawthorne For $26.5M
12512 Oxford Avenue, Hawthorne, California 90250, United States
See Similar DealsMultiFamily79,618 SF
Sold 05/20/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$332
Total Square Footage:79,618 SF
Transaction Type:Sale
A multifamily property located at 12512 Oxford Ave., 3637 W. 139th St., 13714 Kornblum Ave., and 13528 Lemoli Ave. in Hawthorne has been sold for a total of $26,500,000. The property consists of 91 units with an average price per unit of $291,208. The total square footage of the property is 79,618, with an average price per square foot of $332.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,500,000
- Number of Units: 91
- Price per Unit: $291,208
- Total Square Footage: 79,618
- Price per Square Foot: $332
The buyer of this property is Paul Ling, while the seller is Pacific Coast LP, represented by John Swhope. The deal was facilitated by Jonathan Weir from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,148.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,623.52
Annual Debt Service$1,507,482.24
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