Lourdes Castro Ramirez Of HACLA Acquires Emerald Apartments In Los Angeles For $50M
215 West 14th Street
$50,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 15, 2025
AI
The property involved in this transaction is a multifamily asset known as the Emerald Apartments located at 215 West 14th Street in Downtown Los Angeles. The buyer, the Housing Authority of the City of Los Angeles (HACLA), acquired the property for $50 million. This asset comprises 154 residential units with a price per unit of $324,675.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 215 West 14th Street
- Market: Los Angeles
- Units: 154
- Price Per Unit: $324,675
- Buyer: Lourdes Castro Ramirez - Housing Authority of the City of Los Angeles (HACLA)
- Broker: Blake Rogers - JLL
- Lender: City National Bank
This transaction is significant as it allows HACLA to expand affordable housing under HUD’s Restore-Rebuild Program. City National Bank provided the acquisition funding for this purchase, with plans for permanent financing scheduled for 2026. JLL’s Blake Rogers represented the seller in this transaction.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93