Updated Oct 29, 2024
Xenon Investment Corp. Acquires Multifamily Property In West Hollywood For $21.3M
1635 North Martel Avenue, Los Angeles, CA, USA
$21,300,000
$316/SF
Building Size
67,329 SF
Asset Type
MultiFamily
Closing
Mar 25, 2021
About this deal
AI
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.
On the Map
$21,300,000
$316/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93