Morgan Brown Acquires Hollywood Multifamily Property For $5M
1908 Hillcrest Rd, Los Angeles, CA 90068, USA
$5,000,000
$71/SF
Building Size
69,840 SF
Asset Type
MultiFamily
Closing
Jun 4, 2020
AI
A multifamily property located at 1908 Hillcrest Ave in Hollywood was recently sold for a price of $5,000,000. The property spans across 6,984 square feet, resulting in a price per square foot of $716. The property consists of 6 units, with each unit being valued at approximately $833,334.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 1908 Hillcrest Ave
- Market: Hollywood
The seller of the property was Roxanne Storey, while the buyer was Morgan Brown. Representing the seller was David Flate from Douglas Elliman, and the buyer was represented by Nikola Kretschmann and Nick Fichera from Figure8Realty.
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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93