Updated Oct 29, 2024
MWest Holdings Sells Multifamily Property In Koreatown For $38.2M
2424 Wilshire Boulevard, Koreatown, Los Angeles, CA, USA
$38,200,000
$338/SF
Building Size
112,747 SF
Asset Type
MultiFamily
Closing
Dec 19, 2019
About this deal
AI
The multifamily property located at 2424 Wilshire Blvd in Koreatown has been sold for $38,200,000. The property spans over 112,747 square feet, with a price per square foot of $338.81. It consists of 170 units, resulting in a price per unit of $224,705.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $38,200,000
- Address: 2424 Wilshire Blvd
- Market: Koreatown
- Square Footage: 112,747
- Price per Square Foot: $338.81
- Units: 170
- Price per Unit: $224,705
The seller of the property was MWest Holdings. The deal was facilitated by Marcus & Millichap, with Greg Harris, Joe Grabiec, and Kevin Green representing the seller.
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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93