Updated Sep 9, 2024
Michael Cohanzad Acquires 11-Unit Multifamily In Venice For $3.3M
2001 Penmar Avenue, Venice, California 90291, United States
$3,300,000
$440/SF
Building Size
7,496 SF
Asset Type
MultiFamily
Closing
Jan 19, 2022
About this deal
AI
An 11-unit multifamily property located at 2001 Penmar Avenue in Venice has been sold for $3,300,000. The property spans across 7,496 square feet, with an average price per square foot of $440. The transaction took place on January 20, 2022. Michael Monempour of Kidder Matthews represented the seller, Charlotte Hanson, in this deal. Michael Cohanzad is the buyer.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Address: 2001 Penmar Avenue
- Market: Venice
- Units: 11
- Price per Unit: $300,000
- Square Footage: 7,496
- Price per Square Foot: $440
Michael Monempour, representing Kidder Matthews, acted as the broker in this transaction.
On the Map
$3,300,000
$440/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93