Universe Holdings Acquires Hollywood Multifamily For $6.9M
SOLD
$6,900,000
California
See Similar DealsMultiFamily14,870 SF
Sold 01/19/2021
SOLD
Universe Holdings Acquires Hollywood Multifamily For $6.9M
2000 North Highland Avenue, Los Angeles, CA, USA
See Similar DealsMultiFamily14,870 SF
Sold 01/19/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$464
Total Square Footage:14,870 SF
Transaction Type:Sale
Located in the heart of Hollywood, the multifamily property at 2000 N. Highland Blvd has been sold. The transaction took place on January 19, 2021, and the property was acquired by Universe Holdings, represented by Henry Manoucheri. The property consists of 18 units and was sold for a total of $6,900,000. This equates to a per unit price of $380,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,900,000
- Address: 2000 N. Highland Blvd
- Market: Hollywood
Universe Holdings, with Henry Manoucheri as their representative, successfully completed the acquisition. This deal showcases the continued investment activity in the Hollywood market and the confidence in the multifamily asset class. The transaction highlights the expertise and negotiation skills of Henry Manoucheri, representing Universe Holdings in the purchase of this property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$367,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24
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