Updated Oct 28, 2024
Tower Lane Capital Acquires Multifamily Property In Pacific Palisades For $13.5M
16100 West Sunset Boulevard, Pacific Palisades, CA 90272
$13,525,000
$659/SF
Building Size
20,500 SF
Asset Type
MultiFamily
Closing
Jan 4, 2022
About this deal
AI
The multifamily property located at 16100 Sunset Boulevard in Pacific Palisades has been sold for a price of $13,525,000. The property consists of 20 units with an average price per unit of $676,250. The total square footage of the property is 20,500, resulting in a price per square foot of $659.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $13,525,000
- Address: 16100 Sunset Boulevard
- Market: Pacific Palisades
The buyer of the property is Tower Lane Capital, represented by Michael Maltzman and Garrett Green. The seller is Geoffrey Jacobs. Compass agents Kenny Stevens and Andrew Geltman served as the buyer's representatives in the transaction, while Jonathan Taksa from Taksa Investment Group represented the seller.
Players
Pacific Palisades 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
1.17%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93