Blake Wilson-Hayden Acquires Multifamily Property In Central Los Angeles For $4.6M

Located at 1984 Park Grove Avenue in Central Los Angeles, this multifamily property was recently sold in a closed transaction. The sale took place on 04/12/2022 and the property was purchased for $4,600,000. It consists of 26 units, with a price per unit of $176,923. The total square footage of the property is 14,549, resulting in a price per square foot of $316.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,600,000
• Units: 26
• Price per Unit: $176,923
• Square Footage: 14,549
• Price per Square Foot: $316
• Address: 1984 Park Grove Avenue
• Market: Central Los Angeles

The buyer of the property is Blake Wilson-Hayden, while the seller is Jason Hoffman. Charles Wright from Matthews Real Estate Investment Services represented both the buyer and the seller in this transaction. Additionally, Tyler Bradford from Convoy Capital acted as the loan broker.

It is worth noting that the loan for this acquisition is structured with the following terms: a 70% loan-to-value bridge acquisition loan, underwritten at market rents, with a 4% interest rate. The loan entails interest-only payments for 2 years and has a 5-year term with no prepayment penalty.