Mark Colman Acquires Multifamily Property At 211 S Ave 57 In Central Los Angeles
SOLD
$6,525,000
California
See Similar DealsMultiFamily21,528 SF
Sold 11/18/2021
SOLD
Mark Colman Acquires Multifamily Property At 211 S Ave 57 In Central Los Angeles
211 South Avenue 57, Los Angeles, CA 90042
See Similar DealsMultiFamily21,528 SF
Sold 11/18/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$303
Total Square Footage:21,528 SF
Transaction Type:Sale
The multifamily property located at 211 S Ave 57 in Central Los Angeles has been sold. The transaction took place on 11/18/2021. The property consists of 32 units with a total square footage of 21,528. The asking price and sale price for the property were both $6,525,000, resulting in a per unit price of $203,906 and a price per square foot of $303.
Summary of transation details
- Property Type: Multifamily
- Sale Price: $6,525,000
- Units: 32
- Price Per Unit: $203,906
- Square Footage: 21,528
- Price Per Square Foot: $303
- Market: Central Los Angeles
The buyer of the property is Mark Colman, while the seller is Hyman Kosman. The brokers involved in the deal are Taylor Avakian and Charles Wright from Matthews Real Estate Investment Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$348,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,181.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,931.83
Annual Debt Service$371,181.95
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