Jian Torkan Acquires 10-Unit Multifamily In Hollywood For $4.55M
1820 North La Brea Avenue
$4,550,000
$611/SF
Building Size
7,440 SF
Asset Type
MultiFamily
Closing
Aug 18, 2022
AI
The property involved in this transaction is a mid-century modern gem located at 1820 N. La Brea Ave in the Hollywood market. This two-story building consists of 10 units and has a total square footage of 7,440. The sale price for this property was $4,550,000, resulting in a price per unit of $455,000 and a price per square foot of $611.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,550,000
- Address: 1820 N. La Brea Ave
- Market: Hollywood
Jian Torkan purchased this property from Kazuyo Odo in the transaction. The broker representing both the buyer and the seller in this deal was Mason Canter from KW Commercial.
This property is a renter's favorite and a mecca for "Fast & Furious" fans. It is known for its superb renovation with the latest designer details. The location offers easy access to canyon hikes and a dynamic lifestyle with close proximity to The Hollywood Walk of Fame, premier shopping, cafes, bars, restaurants, and entertainment options. With a Walk Score of 90%, this property is rated a Walker's Paradise. Fans of the movie can often be seen outside the building, posing for photos.
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
3.49%
Cash-on-Cash
-1.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93