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2301 South Ridgeley Drive, ...

David Aghaei Acquires Multifamily Property In West Adams For $2.15M
SOLDMultiFamily

David Aghaei Acquires Multifamily Property In West Adams For $2.15M

2301 South Ridgeley Drive, Los Angeles, CA, USA

$2,150,000

$314/SF

Building Size

6,840 SF

Asset Type

MultiFamily

Closing

Nov 7, 2019

AI

The multifamily property located at 2301 S. Ridgeley Dr in West Adams has been sold for a price of $2,150,000. The property consists of 10 units with a total square footage of 6,840. The price per square foot for this transaction was $314.33. The buyer of the property is David Aghaei of Oak Road Capital, while the broker representing the deal is Casey Lins from RE Max. The purchase price per unit was $215,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,150,000
  • Address: 2301 S. Ridgeley Dr
  • Market: West Adams
  • Buyer: David Aghaei @oakroadcap
  • Broker: Casey Lins - RE Max
  • Square Footage: 6,840
  • Price per Square Foot: $314.33
  • Units: 10
  • Price per Unit: $215,000

The successful sale of this multifamily property was facilitated by Casey Lins from RE Max, who represented David Aghaei of Oak Road Capital as the buyer. This transaction highlights the strong market demand in the West Adams area for multifamily properties.

Players

Casey Lins

Kidder Mathews

Broker

$14.4M

vol

5 deals

Broker

David Aghaei

Buyer

$25M

vol

9 deals

Buyer

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

7.38%

Cash-on-Cash

-2.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93