Updated Aug 31, 2026
Garrett Hill Purchases Multifamily Property At 245 5th Avenue From Albert Gallagher For $1.18M
245 5th Avenue
$1,180,000
$690/SF
Building Size
1,708 SF
Asset Type
MultiFamily
Closing
Aug 27, 2026
About this deal
AI
The multifamily asset located at 245 5th Avenue in Venice has been sold for $1,180,000. This property consists of 2 units and has a total square footage of 1,708, resulting in a price per unit of $590,000 and a price per square foot of $690.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,180,000
- Units: 2
- Square Footage: 1,708
- Price Per Unit: $590,000
- Price Per Square Foot: $690
- Buyer: Garrett Hill
- Seller: Albert Gallagher
- Brokers: Jake Glaser & Ryan Haggerty - Lyon Stahl Investment Real Estate
Garrett Hill acquired the property from seller Albert Gallagher, with the transaction facilitated by brokers Jake Glaser and Ryan Haggerty, representing Lyon Stahl Investment Real Estate.
On the Map
$1,180,000
$690/SF
MultiFamily
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Venice 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
13.44%
Cash-on-Cash
-3.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93