Albert Bitong Acquires Multifamily Property On S. New England In Pico-Union For $2.7M
SOLD
$2,699,000
California
See Similar DealsMultiFamily7,509 SF
Sold 07/22/2021
SOLD
Albert Bitong Acquires Multifamily Property On S. New England In Pico-Union For $2.7M
1805 South New England Street, Los Angeles, CA, USA
See Similar DealsMultiFamily7,509 SF
Sold 07/22/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$359
Total Square Footage:7,509 SF
Transaction Type:Sale
The multifamily property located at 1805 S. New England in Pico-Union has been sold in a recent transaction. The sale took place on July 22, 2021. The property consists of 4 units with a total square footage of 7,509. The sale price for the property was $2,699,000, resulting in a price per unit of $674,750 and a price per square foot of $359.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,699,000
- Address: 1805 S. New England
- Market: Pico-Union
The buyer of the property was Albert Bitong, while the seller was Isaac Davidi. The transaction was facilitated by Elizabeth Maddox and Ian Maddox from The 2-4 Unit brokerage.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$143,946.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,588.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,794.64
Annual Debt Service$153,535.64
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