Updated Oct 29, 2024
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
About this deal
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.
On the Map
$2,640,000
$449/SF
MultiFamily
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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