Jennifer Sotelo & Tony Azzi Acquire Multifamily Property In Koreatown For $12.24M
SOLD
$12,240,000
+ 2
California
See Similar DealsMultiFamily35,216 SF
Sold 08/05/2021
SOLD
Jennifer Sotelo & Tony Azzi Acquire Multifamily Property In Koreatown For $12.24M
134 North Mariposa Avenue
See Similar DealsMultiFamily35,216 SF
Sold 08/05/2021
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$347
Total Square Footage:35,216 SF
Transaction Type:Sale
The multifamily property located at 134 North Mariposa Avenue in Koreatown has been sold for $12,240,000. The property consists of 44 units with an average price per unit of $278,182. The total square footage of the property is 35,216, and the price per square foot is $347. The Gross Rent Multiplier (GRM) for the property is 14.18x, and the Capitalization Rate (CAP) is 3.44%.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $12,240,000
- Units: 44
- Price Per Unit: $278,182
- Square Footage: 35,216
- Price Per Square Foot: $347
- Gross Rent Multiplier (GRM): 14.18x
- Capitalization Rate (CAP): 3.44%
The seller of the property was David F. Freeman, and the buyer was represented by Jennifer Sotelo & Tony Azzi. David Leibowitz & Sev Amranyan served as the seller's representatives in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$652,800.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,486.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,023.84
Annual Debt Service$696,286.13
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