Chase Simonton Acquires Multifamily Property In Los Angeles For $2.385M
2610 South Bundy Drive
$2,385,000
$304/SF
Building Size
7,825 SF
Asset Type
MultiFamily
Closing
May 28, 2024
AI
A multi-family property at 2610 South Bundy Drive in Los Angeles sold for $2,385,000, featuring 7,825 square feet of building space and a price per square foot of $305. The property boasts a prime West Los Angeles location near Santa Monica, offering a mix of 1-bedroom and 2-bedroom units with significant rental upside potential and completed earthquake retrofit work.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,385,000
- Address: 2610 South Bundy Drive
- Market: Los Angeles
- Square Footage: 7,825
- Price Per Square Foot: $305
- Buyer's Rep: Chase Simonton - Re/Max One
- Seller's Rep: Michael Salerno - Lee & Associates
Chase Simonton of Re/Max One represented the buyer in this transaction, while Michael Salerno of Lee & Associates represented the seller. The sale of this multi-family property underscores the demand for properties with rental upside potential in sought-after locations like West Los Angeles.
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
6.65%
Cash-on-Cash
-1.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93