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Derek Chen & David Kim Of The Bascom Group Acquire Downey Multifamily Asset For $37.6M

Property Image
SOLD
$37,600,000
DC
DK

California

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MultiFamily
Sold 10/03/2025
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Property Image
SOLD

Derek Chen & David Kim Of The Bascom Group Acquire Downey Multifamily Asset For $37.6M

12535 Brookshire Avenue

See Similar Deals
MultiFamily
Sold 10/03/2025
DC
DK
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The asset involved in the transaction is a multifamily property located at 12535 Brookshire Avenue in Downey, California. The property features 112 residential units and was sold for $37.6 million, resulting in a price per unit of $335,714.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $37,600,000
  • Units: 112
  • Price Per Unit: $335,714
  • Buyer: Derek Chen & David Kim - The Bascom Group
  • Broker: NorthMarq
  • Lender: Freddie Mac
  • Loan Amount: $25.55 million
  • Interest Rate: 5.05%
  • Interest-only Payments: Four years

The deal involved key individuals Derek Chen and David Kim representing The Bascom Group as the buyers. NorthMarq acted as the broker for the sale, facilitating the transactions between the buyers and the involved lending institution, Freddie Mac.

Players

The Bascom Group
The Bascom Group
BROKERAGE
NorthMarq
NorthMarq
BROKERAGE
DC
Derek Chen
4 deals$90.1M volume
BUYER
DK
David Kim
6 deals$132.6M volume
BUYER
Freddie Mac
Freddie Mac
LENDER

Details

SOLD
IMAGE: Derek Chen & David Kim DATE: 10/03/2025 ADDRESS: 12535 Brookshire Avenue MARKET: Downey ASSET TYPE: Multifamily BUYER: Derek Chen & David Kim - The Bascom Group BROKER: NorthMarq (@NorthMarq) LENDER: Freddie Mac (@FreddieMacCorp) SALE PRICE: $37,600,000 UNITS: 112 ~ PPU: $335,714 NOTE: Bascom Group sold The Square, a 112-unit apartment complex at 12535 Brookshire Ave. in Downey, Calif., for $37.6 million, or $335,714 per unit. Northmarq brokered the sale and arranged a $25.55 million Freddie Mac loan with a 5.05% rate and four years of interest-only payments.

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

$2,005,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$133,584.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$178,243.18
Annual Debt Service$2,138,918.19