Updated May 12, 2025
Echo Park Multifamily Sells For $1.57M With Kingside Group As Brokers
1556 Parmer Avenue, Echo Park, Los Angeles, CA, USA
$1,575,000
$333/SF
Building Size
4,722 SF
Asset Type
MultiFamily
Closing
Jun 24, 2019
About this deal
AI
This multifamily asset, located at 1556 Parmer Avenue in Echo Park, was transacted for a price of $1,575,000. The property encompasses a total square footage of 4,722, featuring 7 units. The price per square foot stands at $330.05, with a price per unit of $225,000. The capitalization rate is recorded at 2.62%, while the gross rent multiple is 18.69.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,575,000
- Square Footage: 4,722
- Address: 1556 Parmer Avenue
- Market: Echo Park
- Units: 7
- Price Per Square Foot: $330.05
- Price Per Unit: $225,000
- Capitalization Rate: 2.62%
- Gross Rent Multiple: 18.69
The transaction involved brokers Andres Diaz and Daniel Shon from Kingside Group, representing the multifamily asset sale. Their expertise facilitated the negotiation and conclusion of this deal.
On the Map
$1,575,000
$333/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.07%
Cash-on-Cash
-2.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93