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1859 Echo Park Avenue

Updated Dec 4, 2024

Multifamily Property In Echo Park Sold For $1.45 Million With Jason Tuvia Representing Seller
SOLDMultiFamily

Multifamily Property In Echo Park Sold For $1.45 Million With Jason Tuvia Representing Seller

1859 Echo Park Avenue

$1,450,000

Units

5

Asset Type

MultiFamily

Closing

Oct 4, 2024

About this deal

AI

A five-unit apartment building located at 1859 Echo Park Avenue in Los Angeles has been sold for $1.45 million, translating to $290,000 per unit. The property was fully occupied at the time of sale and experienced significant deferred maintenance, indicating the need for future investment. The transaction was completed in an all-cash deal.

Summary of transaction details:

Jason Tuvia of Marcus & Millichap represented the seller in this transaction. The buyer, a first-time multifamily investor, successfully acquired the property amidst existing maintenance challenges.

On the Map

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$1,450,000

MultiFamily

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Players

Jason Tuvia

Marcus & Millichap

Broker

$127.3M

vol

42 deals

Broker
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Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $290K per unit across 5 units on a published $1.5M (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.94%

Cash-on-Cash

-3.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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