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Dunbar Real Estate Investment Management Acquires 28-Unit Multifamily In La Mirada For $11.1M

Property Image
SOLD
$11,100,000
Dean Zander
Ross Mitchell
+ 2

California

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SOLD

Dunbar Real Estate Investment Management Acquires 28-Unit Multifamily In La Mirada For $11.1M

MultiFamily
Sold
Dean Zander
Ross Mitchell
+ 2
Contact now

Summary

Asset Type:MultiFamily
Transaction Type:Sale

A multifamily apartment building located at 1628 La Mirada Boulevard, La Mirada, was sold for $11.1 million. The property features 28 units, with a price per unit of $396,429.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $11,100,000
  • Address: 1628 La Mirada Boulevard
  • Market: La Mirada
  • Units: 28
  • Price Per Unit: $396,429
  • Buyer: Ross Mitchell - Dunbar Real Estate Investment Management
  • Seller: Charles Tourtellotte - LaTerra Development
  • Buyer's Representative: Dean Zander - Newmark
  • Seller's Representatives: Joe Leon & Nick Ingle - Voit Real Estate Services

The transaction involved Ross Mitchell representing Dunbar Real Estate Investment Management as the buyer, with Dean Zander from Newmark facilitating the purchase. Charles Tourtellotte represented LaTerra Development as the seller, while Joe Leon and Nick Ingle of Voit Real Estate Services represented the seller in this deal.

Players

Dean Zander
34 deals$2.1B volume(310) 407-6522
BROKER

Joe Leon
7 deals$494.8M volume
BROKER

Nick Ingle
Voit Real Estate Services
1 deal$11.1M volume(949) 263-5318
BROKER

Ross Mitchell
4 deals$45.8M volume
BUYER

Details

SOLD
IMAGE: Ross Mitchell, Charles Tourtellotte, Dean Zander, Joe Leon & Nick Ingle DATE: 04/04/2025 ADDRESS: 1628 La Mirada Boulevard MARKET: La Mirada ASSET TYPE: Multifamily BUYER: Ross Mitchell - Dunbar Real Estate Investment Management SELLER: Charles Tourtellotte - LaTerra Development BUYER'S REP: Dean Zander (@Deanzzz1) - Newmark (@Newmark) SELLER'S REP: Joe Leon & Nick Ingle - Voit Real Estate Services (@VoitRealEstate) SALE PRICE: $11,100,000 UNITS: 28 ~ PPU: $396,429 NOTE: LaTerra Development sold The Charlie La Mirada, a 28-unit apartment building in La Mirada, for $11.1 million to Dunbar Real Estate Investment Management. Joe Leon and Nick Ingle of Voit represented the seller; Dean Zander of Newmark represented the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$592,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96