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
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.
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
10.07%
Cash-on-Cash
-2.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93