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Terrance Anderson Trust Sells 20-Unit Multifamily In Echo Park For $2.7M

Property Image
SOLD
$2,700,000
Yitzy Pearson
TA

California

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MultiFamily11,520 SF
Sold 03/05/2021
the dealplayerscompscontact
Property Image
SOLD

Terrance Anderson Trust Sells 20-Unit Multifamily In Echo Park For $2.7M

1443 North Alvarado Street, Echo Park, Los Angeles, CA, USA

See Similar Deals
MultiFamily11,520 SF
Sold 03/05/2021
Yitzy Pearson
TA
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$234
Total Square Footage:11,520 SF
Transaction Type:Sale

The multifamily property located at 1443 N. Alvarado Street in Echo Park, was recently sold for $2,700,000. The property consists of 20 units with a price per unit of $135,000. It has a total square footage of 11,520, resulting in a price per square foot of $234. The seller of the property was The Terrance Anderson Trust.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Market: Echo Park
  • Units: 20
  • Price per Unit: $135,000
  • Square Footage: 11,520
  • Price per Square Foot: $234
  • CAP Rate: 6%

The transaction was facilitated by Yitzy Pearson from Pearson Real Estate Group, acting as the broker representing The Terrance Anderson Trust.

Players

Yitzy Pearson
Yitzy Pearson
6 deals$45.8M volume
BROKER
TA
Terrance Anderson
3 deals$13.9M volume
SELLER

Details

SOLD
IMAGE: Yitzy Pearson DATE: 03/05/2021 ADDRESS: 1443 N. Alvarado Street MARKET: Echo Park ASSET TYPE: Multifamily SELLER: The Terrance Anderson Trust BROKER: Yitzy Pearson @YitzyPearson - Pearson Real Estate Group @PearsonRealEstateGroup SALE PRICE: $2,700,000 UNITS: 20 ~ PPU: $135,000 SF: 11,520 ~ PPSF: $234 CAP: 6%

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

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53