Mark Silber Acquires Hollywood Multifamily For $8.45M, Represented By Michael Kamara & Michael Sterman - Marcus & Millichap
1757 North Serrano Avenue, Central LA, Los Angeles, CA, USA
$8,450,000
$291/SF
Building Size
28,999 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
AI
Located at 1757 N. Serrano Ave. in Hollywood, this multifamily property was recently sold for a total of $8,450,000. The transaction took place on November 16, 2021, and involved a total of 34 units. The price per unit (PPU) for this property is $248,529, with a total square footage of 28,999 and a price per square foot (PPSF) of $291.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,450,000
- Units: 34
- Price per Unit (PPU): $248,529
- Total Square Footage: 28,999
- Price per Square Foot (PPSF): $291
Mark Silber was the buyer of this property, while Joseph Flan acted as the seller. Representing the buyer was Michael Kamara and Michael Sterman from Marcus & Millichap, and representing the seller was Brent Sprenkle from Berkadia.
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
1.88%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93