Howard Tenenbaum Acquires Hollywood Multifamily For $16.25M
SOLD
$16,250,000
+ 1
California
See Similar DealsMultiFamily32,664 SF
Sold 12/08/2021
SOLD
Howard Tenenbaum Acquires Hollywood Multifamily For $16.25M
1320 North Sycamore Avenue, Central LA, Los Angeles, CA, USA
See Similar DealsMultiFamily32,664 SF
Sold 12/08/2021
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$497
Total Square Footage:32,664 SF
Transaction Type:Sale
Located in the Hollywood market, the multifamily property at 1320 N. Sycamore Avenue has been sold in a recent transaction for $16,250,000. The property spans across 32,664 square feet, resulting in a price per square foot of $497. The sale took place on 12/08/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,250,000
- SF: 32,664
- PPSF: $497
- Address: 1320 N. Sycamore Avenue
- Market: Hollywood
The buyer, Howard Tenenbaum, acquired the property from the seller, Jean Lee. The transaction was facilitated by the brokers Jonathan Taksa and Rob Renshaw of Taksa Investment Group, as well as Matt Sillaman of LBPM.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,732.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,033.29
Annual Debt Service$924,399.48
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