Sam Bornstein Acquires Multifamily Properties From Elmer Anderson For $6.1 Million In Los Angeles
SOLD
$6,100,000
California
See Similar DealsMultiFamily59,608 SF
Sold 04/04/2025
SOLD
Sam Bornstein Acquires Multifamily Properties From Elmer Anderson For $6.1 Million In Los Angeles
1909 Buckingham Road & 4646 Coliseum Street
See Similar DealsMultiFamily59,608 SF
Sold 04/04/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$102
Total Square Footage:59,608 SF
Transaction Type:Sale
The transaction involved a multifamily asset located at 1909 Buckingham Road & 4646 Coliseum Street in the Los Angeles market. This portfolio sale comprised a total of 34 units and offers a price per unit of $179,411. The properties have a combined square footage of 29,804, equating to a price per square foot of $204. The sale was completed on April 4, 2025, with a total transaction amount of $6,100,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Units: 34
- Price Per Unit: $179,411
- Square Footage: 29,804
- Price Per Square Foot: $204
- Buyer: Sam Bornstein
- Seller: Elmer Anderson
- Brokers: Chase Simonton & Robert Carlile - Re/Max One Commercial
This transaction was characterized by a smooth process for the seller, with the buyer successfully closing on both properties listed on the open market. The brokers involved represented the interests of their respective clients in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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