Updated Sep 9, 2024
Edwin Cortez Acquires Multifamily Property On S. Orange Grove Ave For $2.1M
1556 S Orange Grove Ave, Los Angeles, CA 90019, USA
$2,100,000
$35/SF
Building Size
60,000 SF
Asset Type
MultiFamily
Closing
Aug 23, 2020
About this deal
AI
1556 S. Orange Grove Ave, a multifamily property, was recently sold in a closed transaction. The property spans 6,000 square feet and consists of 7 units. The sale price was $2,100,000, resulting in a price per square foot of $350. The price per unit was $300,000. The property's capitalization rate is 3.59% and the gross rent multiplier is 16.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Square Footage: 6,000
- Number of Units: 7
- Price per Square Foot: $350
- Price per Unit: $300,000
- Capitalization Rate: 3.59%
- Gross Rent Multiplier: 16
The seller of 1556 S. Orange Grove Ave was Karen M Peters, and the buyer was Edwin Cortez. The deal was facilitated by brokers Michael Monempour and Ariel Sayani, demonstrating their expertise and involvement in the transaction.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael Monempour to view all their deals.
Browse California multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93