Jong Park Acquires Montrose Multifamily For $5.15M With Sam Liberow & Jeff Louks
$5,150,000
SOLD
$5,150,000
California
See Similar DealsMultiFamily12,172 SF
Sold 07/23/2020
$5,150,000
SOLD
Jong Park Acquires Montrose Multifamily For $5.15M With Sam Liberow & Jeff Louks
2300 Montrose Avenue, Montrose, CA 91020, USA
See Similar DealsMultiFamily12,172 SF
Sold 07/23/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$423
Total Square Footage:12,172 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$274,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,296.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,413.63
Annual Debt Service$292,963.53
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