Updated Mar 17, 2025
JPMorgan Investment Management Acquires Multifamily In Little Tokyo For $115.8M
OOTORO LITTLE TOKYO, 232 East 2nd Street, Los Angeles, CA, USA
$115,800,000
$7,720/SF
Building Size
15,000 SF
Asset Type
MultiFamily
Closing
Apr 24, 2020
About this deal
AI
A multifamily property located at 232 E. 2nd Street in Little Tokyo has been sold for $115,800,000. The property consists of 240 units, resulting in a price per unit of $482,500. The transaction took place on April 25, 2020. The buyer of the property is JPMorgan Investment Management, while the seller is Sares-Regis Group represented by William Thormahlen.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $115,800,000
- Units: 240
- Price per Unit: $482,500
- Market: Little Tokyo
JPMorgan Investment Management acquired the property from the Sares-Regis Group, with William Thormahlen representing the seller. This transaction highlights the active real estate market in Little Tokyo and the confidence of institutional investors like JPMorgan Investment Management in multifamily properties.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93