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Tong Zhang Represents Buyer In $3.75M Sale Of Multifamily Asset In Los Angeles

Property Image
SOLD
$3,750,000
Ian Maddox

California

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MultiFamily7,864 SF
Sold 03/19/2024
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Property Image
SOLD

Tong Zhang Represents Buyer In $3.75M Sale Of Multifamily Asset In Los Angeles

1260 Leighton Avenue

See Similar Deals
MultiFamily7,864 SF
Sold 03/19/2024
Ian Maddox
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$476
Total Square Footage:7,864 SF
Transaction Type:Sale

The multifamily asset located at 1260 Leighton Avenue in Los Angeles was recently sold for $3,750,000. Spanning 7,864 square feet, the property was acquired at a price of $477 per square foot. Tong Zhang from Summit Mortgage & Realty facilitated the purchase as the buyer's representative, while Elizabeth Maddox and Ian Maddox of The 2-4 Unit Specialists acted as the seller's representatives in this transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,750,000
  • Address: 1260 Leighton Avenue
  • Market: Los Angeles
  • Square Footage: 7,864
  • Buyer's Representative: Tong Zhang - Summit Mortgage & Realty
  • Seller's Representative: Elizabeth Maddox & Ian Maddox - The 2-4 Unit Specialists

The sale of the multifamily asset at 1260 Leighton Avenue was orchestrated by Tong Zhang representing Summit Mortgage & Realty as the buyer's agent and Elizabeth Maddox and Ian Maddox of The 2-4 Unit Specialists as the seller's representatives. This transaction exemplifies the collaboration of key individuals and firms in the real estate market of Los Angeles.

Players

Elizabeth Maddox
26 deals$80.4M volume
BROKER

Ian Maddox
The 2-4 Unit Specialists
24 deals$72.4M volume
BROKER

Details

SOLD
IMAGE: Elizabeth Maddox & Ian Maddox DATE: 03/19/2024 ADDRESS: 1260 Leighton Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER'S REP: Tong Zhang - Summit Mortgage & Realty SELLER'S REP: Elizabeth Maddox (@ElizabethjMaddox) & Ian Maddox (@Ian_Maddox) - The 2-4 Unit Specialists (@TwotoFourUnits) SALE PRICE: $3,750,000 SF: 7,864 ~ PPSF: $477 NOTE: The property at 1260 Leighton Avenue in Los Angeles, a multifamily asset, was sold for $3,750,000. Tong Zhang of Summit Mortgage & Realty represented the buyer, while Elizabeth Maddox and Ian Maddox of The 2-4 Unit Specialists represented the seller in this transaction.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,322.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,776.91
Annual Debt Service$213,322.96