Updated Oct 29, 2024
Ronie Ravan Acquires Multifamily Property In Westwood For $2.4M
1621 Glendon Ave, Westwood, Los Angeles, CA, USA
$2,400,000
$521/SF
Building Size
4,600 SF
Asset Type
MultiFamily
Closing
Oct 3, 2019
About this deal
AI
This off-market transaction involved a multifamily property located at 1621 Glendon Ave in the Westwood market. The property spans 4,600 square feet and consists of 8 units. The sale price for this transaction was $2,400,000, resulting in a price per square foot of $521.74 and a price per unit of $300,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,400,000
- Address: 1621 Glendon Ave
- Market: Westwood
The buyer in this transaction was Ronie Ravan, representing Glendon Plaza LLC/Ravan Property Group. The seller was the Ashodian Family Trust. Mojgan Hekim served as the broker in this deal. It should be noted that this sale was completed off-market.
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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93