Xenon Investment Corp. Acquires Multifamily Property In West Hollywood For $21.3M
SOLD
$21,300,000
California
See Similar DealsMultiFamily67,329 SF
Sold 03/26/2021
SOLD
Xenon Investment Corp. Acquires Multifamily Property In West Hollywood For $21.3M
1635 North Martel Avenue, Los Angeles, CA, USA
See Similar DealsMultiFamily67,329 SF
Sold 03/26/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$316
Total Square Footage:67,329 SF
Transaction Type:Sale
The multifamily property located at 1635-1639 N. Martel Avenue in West Hollywood has been sold for a price of $21,300,000. This property consists of 60 units, with an average price per unit (PPU) of $355,000. The total square footage of the property is 67,329, with a price per square foot (PPSF) of $316.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $21,300,000
- Units: 60
- Price per Unit (PPU): $355,000
- Square Footage: 67,329
- Price per Square Foot (PPSF): $316
- Address: 1635-1639 N. Martel Avenue, West Hollywood
- Market: West Hollywood
Xenon Investment Corp. has purchased the property, with the transaction facilitated by Matthew Kanner from The Kanner Group, who represents KW Commercial.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,135,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$75,674.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$100,972.87
Annual Debt Service$1,211,674.40
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