Updated Oct 29, 2024
Park Ave Apartments LLC Acquires Multifamily Property On Echo Park For $8.1M
1717 Park Avenue, Los Angeles, CA, USA
$8,100,000
$423/SF
Building Size
19,114 SF
Asset Type
MultiFamily
Closing
Jul 16, 2019
About this deal
AI
The multifamily property located at 1717-1725 Park Ave in Echo Park has been sold. The property, consisting of 19,114 square feet, was sold for a price of $8,100,000, resulting in a price per square foot of $423.77. The transaction took place on July 17, 2019.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,100,000
- Address: 1717-1725 Park Ave
- Market: Echo Park
Park Ave Apartments LLC purchased the property from Park 36 LLC. The sale was facilitated by brokers Sevak Keshishian and Tadeh Minassian.
On the Map
$8,100,000
$423/SF
MultiFamily
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Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93