Morgan Brown Acquires Hollywood Multifamily Property For $5M
SOLD
$5,000,000
California
See Similar DealsMultiFamily69,840 SF
Sold 06/05/2020
SOLD
Morgan Brown Acquires Hollywood Multifamily Property For $5M
1908 Hillcrest Rd, Los Angeles, CA 90068, USA
See Similar DealsMultiFamily69,840 SF
Sold 06/05/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$71
Total Square Footage:69,840 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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