HACLA Acquires Panorama City Multifamily For $10M From Golden Bee Properties
14949 Roscoe Boulevard
$10,000,000
$628/SF
Building Size
15,922 SF
Asset Type
MultiFamily
Closing
Sep 2, 2022
AI
The multifamily property located at 14949 Roscoe Blvd in Panorama City was sold for $10,000,000. The asset comprises 31 units, totaling 15,922 square feet, which reflects a price per unit of $322,581 and a price per square foot of $628.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Address: 14949 Roscoe Blvd
- Market: Panorama City
- Units: 31
- Square Footage: 15,922
- Price Per Unit: $322,581
- Price Per Square Foot: $628
- Buyer: Housing Authority of the City of Los Angeles (HACLA)
- Seller: Golden Bee Properties
The transaction involved brokers David Berneman, Jonathan Zadok, and Marty Berneman, representing Golden Bee Properties. The project was sold to HACLA as part of Project Home Key.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93