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Chase Simonton Acquires Multifamily Property In Los Angeles For $2.385M

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SOLD
$2,385,000

California

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MultiFamily7,825 SF
Sold 05/28/2024
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SOLD

Chase Simonton Acquires Multifamily Property In Los Angeles For $2.385M

2610 South Bundy Drive

See Similar Deals
MultiFamily7,825 SF
Sold 05/28/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$304
Total Square Footage:7,825 SF
Transaction Type:Sale

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:

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

Michael "Mike" Salerno
6 deals$23.2M volume
BROKER

Chase Simonton
Re/Max
45 deals$142.5M volume(310) 383-5927
BROKER

Details

SOLD
IMAGE: Chase Simonton & Michael Salerno DATE: 05/28/2024 ADDRESS: 2610 South Bundy Drive MARKET: Los Angeles ASSET TYPE: Multifamily BUYER'S REP: Chase Simonton (@ChaseSimonton) - Re/Max One (@Remax) SELLER'S REP: Michael Salerno - Lee & Associates (@LeeAssociatesRE) SALE PRICE: $2,385,000 SF: 7,825 ~ PPSF: $305 NOTE: 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.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$127,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,473.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,306.12
Annual Debt Service$135,673.40