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Essential Management Acquires Multifamily Property On North Beachwood Drive For $4.2M

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SOLD
$4,240,834

California

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MultiFamily9,175 SF
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SOLD

Essential Management Acquires Multifamily Property On North Beachwood Drive For $4.2M

2150 North Beachwood Drive, Central LA, Los Angeles, CA, USA

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MultiFamily9,175 SF
Sold
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$462
Total Square Footage:9175 SF
Transaction Type:Sale

Located in Hollywood Hills, the multifamily property at 2150 North Beachwood Drive recently changed hands in a sale transaction. The property spans 9,175 square feet and consists of 14 units. The sale price for this transaction was $4,240,834, resulting in a price per square foot of $462.22. The buyer in this deal was Essential Management, while the seller was Ikuko Takashio. The transaction was facilitated by James Welsh and Sean Rosenzweig of Marcus & Millichap Los Angeles.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,240,834
  • Square Footage: 9,175
  • Price per Square Foot: $462.22
  • Units: 14
  • Buyer: Essential Management
  • Seller: Ikuko Takashio
  • Brokers: James Welsh, Sean Rosenzweig (Marcus & Millichap Los Angeles)

James Welsh and Sean Rosenzweig of Marcus & Millichap Los Angeles played a pivotal role in facilitating this transaction. Their expertise and negotiation skills ensured a successful outcome for both the buyer and the seller.

Players

James Welsh
2 deals$7M volume
BROKER

Sean Rosenzweig
Marcus & Millichap
14 deals$99.4M volume
BROKER

Details

SOLD
IMAGE: James Welsh @jameshwelsh & Sean Rosenzweig @sean_rosenzweig DATE: 11/19/2019 ADDRESS: 2150 North Beachwood Drive MARKET: Hollywood Hills ASSET TYPE: Multifamily PRICE: $4,240,834 SF: 9,175 PPSF: $462.22 UNITS: 14 PPU: $302,916 BUYER: Essential Management SELLER: Ikuko Takashio BROKERS: James Welsh, Sean Rosenzweig @marcusmillichaplosangeles

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$226,177.80

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,066.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,103.72
Annual Debt Service$241,244.60