Tong Zhang Represents Buyer In $3.75M Sale Of Multifamily Asset In Los Angeles
1260 Leighton Avenue
$3,750,000
$476/SF
Building Size
7,864 SF
Asset Type
MultiFamily
Closing
Mar 19, 2024
AI
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
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93