Updated Dec 4, 2024
Michael Kamara Acquires Multifamily In Los Angeles For $1.99M
1861 Martin Luther King Jr Boulevard
$1,990,000
$268/SF
Building Size
7,404 SF
Asset Type
MultiFamily
Closing
Apr 23, 2024
About this deal
AI
The multifamily property located at 1861 Martin Luther King Jr Boulevard in Los Angeles was sold for $1,990,000. The property comprises 12 units with a total square footage of 7,404. The price per unit stood at $165,833, and the price per square foot was $269.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,990,000
- Units: 12
- Square Footage: 7,404
- Price per Unit: $165,833
- Price per Square Foot: $269
- Address: 1861 Martin Luther King Jr Boulevard
- Market: Los Angeles
The buyer of the property was Michael Kamara, and the seller was Curtis Ellmore. Jon Rawson from Avenue Realty Group represented the transaction as the broker.
On the Map
$1,990,000
$268/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.97%
Cash-on-Cash
-2.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93