Updated Oct 29, 2024
Elijah Korobkin & Maxx Feldman Of The Goldfinger Group Acquire Mid City Multifamily For $1.8M
1550 2nd Ave, Central LA, Los Angeles, CA, USA
$1,800,000
$273/SF
Building Size
6,586 SF
Asset Type
MultiFamily
Closing
Sep 3, 2020
About this deal
AI
The multifamily property located at 1550 2nd Ave in Mid City has been sold for $1,800,000. The transaction took place on 09/04/2020. The property consists of 8 units with a total square footage of 6,586. The price per unit was $225,000, and the price per square foot was $273. The capitalization rate is 6% and the gross rent multiplier is 11.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- Units: 8
- Price per Unit: $225,000
- Square Footage: 6,586
- Price per Square Foot: $273
- Capitalization Rate: 6%
- Gross Rent Multiplier: 11
The buyers of the property are Elijah Korobkin and Maxx Feldman, who are represented by The Goldfinger Group. Michelle Ju served as the broker for this transaction.
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93