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FME Investment Group Acquires Multifamily Property In Los Angeles For $1.95M

Property Image
SOLD
$1,950,000
James Keady
Priscilla Nee
Daniel (Dan) Blackwell
+ 2

California

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MultiFamily10,122 SF
Sold 09/21/2023
the dealplayerscompscontact
Property Image
SOLD

FME Investment Group Acquires Multifamily Property In Los Angeles For $1.95M

1409 Crenshaw Boulevard & 1411 Crenshaw Boulevard

See Similar Deals
MultiFamily10,122 SF
Sold 09/21/2023
James Keady
Priscilla Nee
Daniel (Dan) Blackwell
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$192
Total Square Footage:10,122 SF
Transaction Type:Sale

The multifamily property located at 1409-1411 Crenshaw Boulevard in Los Angeles has been sold. The property consists of 11 units with a total square footage of 5,061. The selling price for the property was $1,950,000, which translates to a price per unit of $177,273. Additionally, the price per square foot for the property was $385.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,950,000
  • Units: 11 ~ PPU: $177,273
  • SF: 5,061 ~ PPSF: $385
  • Address: 1409-1411 Crenshaw Boulevard
  • Market: Los Angeles

The buyer of the property is FME Investment Group, represented by Brian Evans. The seller is Ping Wu. The transaction was facilitated by CBRE brokers Kevin Sin, Priscilla Nee, Dan Blackwell, and James Keady.

Players

Kevin Sin
CBRE
Kevin Sin
21 deals$126.6M volume
BROKER
Daniel (Dan) Blackwell
CBRE
Daniel Blackwell
61 deals$439.4M volume(949) 725-8655
BROKER
Priscilla Nee
CBRE
Priscilla Nee
10 deals$166.5M volume
BROKER
James Keady
CBRE
James Keady
2 deals$4.8M volume
BROKER
BE
Brian Evans
3 deals$14.4M volume
BUYER

Details

SOLD
IMAGE: Kevin Sin, Priscilla Nee, Dan Blackwell & James Keady DATE: 09/21/2023 ADDRESS: 1409-1411 Crenshaw Boulevard MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: FME Investment Group - Brian Evans SELLER: Ping Wu BROKERS: Kevin Sin (@SoCalApartmentAdvisors), Priscilla Nee, Dan Blackwell (@MultiFamilySocal) & James Keady - CBRE (@CBRE) ASKING PRICE: $1,950,000 SALE PRICE: $1,950,000 UNITS: 11 ~ PPU: $177,273 SF: 5,061 ~ PPSF: $385

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

$103,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94