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2300 Montrose Avenue, Montr...

SOLDMultiFamily

Jong Park Acquires Montrose Multifamily For $5.15M With Sam Liberow & Jeff Louks

2300 Montrose Avenue, Montrose, CA 91020, USA

$5,150,000

$423/SF

Building Size

12,172 SF

Asset Type

MultiFamily

Closing

Jul 23, 2020

AI

The asset involved in this transaction is a multifamily property located at 2300 Montrose Avenue in the Montrose market. The sale price of the property was $5,150,000, which encompasses a total of 15 units. The building features a square footage of 12,172, translating to a price per unit of $343,333 and a price per square foot of $423.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,150,000
  • Address: 2300 Montrose Avenue
  • Market: Montrose
  • Units: 15
  • Price Per Unit: $343,333
  • Square Feet: 12,172
  • Price Per Square Foot: $423
  • Buyer: Jong Park
  • Seller: Meisels Family
  • Brokers: Sam Liberow, Jeff Louks & Elliot Sabag

Jong Park acquired the property from the Meisels Family, with representation provided by brokers Sam Liberow, Jeff Louks, and Elliot Sabag in this transaction. Their involvement was crucial in facilitating the deal between the buyer and seller.

Players

Jeff Louks

Marcus & Millichap

Broker

$337.6M

vol

33 deals

Broker

Montrose 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

3.08%

Cash-on-Cash

-0.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93