Updated Oct 29, 2024
Champion Portland LLC Acquires Multifamily Property Near USC For $14.1M
2353 Portland Street, Los Angeles, CA 90007, USA
$14,100,000
$496/SF
Building Size
28,430 SF
Asset Type
MultiFamily
Closing
Mar 10, 2020
About this deal
AI
A multifamily property located at 2353 Portland Street in the USC market has been sold for a price of $14,100,000. The property spans across 28,430 square feet, resulting in a price per square foot of $495.95. With a total of 47 units, the price per unit stands at $300,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,100,000
- Address: 2353 Portland Street
- Market: USC
Champion Portland LLC has acquired the property from Century Park LLC. The transaction was facilitated by Jonathan Taksa from Taksa Investment Group.
This off-market student housing property is situated in close proximity to USC and boasts a well-maintained courtyard. The property features a pool, rec room, and leasing office. Additionally, at the time of sale, over half of the units were vacant, offering ample opportunities for further development and occupancy.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93