1516 Butler Ave Multifamily Sold For $2.6M By Xenon Investment Corp To 1516 JCE Butler LLC
1516 Butler Avenue, Los Angeles, CA 90025, USA
$2,640,000
$449/SF
Building Size
5,871 SF
Asset Type
MultiFamily
Closing
Jun 17, 2019
AI
A multifamily property located at 1516 Butler Ave in West Los Angeles has been sold for a price of $2,640,000. The property spans a total of 5,871 square feet, resulting in a price per square foot of $449.67. This multifamily asset consists of 8 units, with a price per unit of $330,000. The gross rent multiplier (GRM) for this transaction is 17.3.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,640,000
- Address: 1516 Butler Ave
- Market: West Los Angeles
- Square Footage: 5,871
- Price per Square Foot: $449.67
- Number of Units: 8
- Price per Unit: $330,000
- Gross Rent Multiplier (GRM): 17.3
The buyer of the property is 1516 JCE Butler LLC, while the seller is Xenon Investment Corp. Acting as the broker in this transaction is Ramin Gheitanchi.
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
6.01%
Cash-on-Cash
-1.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93