Updated Dec 20, 2023
Filip Niculete, Glen Scher, Rick Ramirez & Jeffrey Neel Sell 6-Unit Multifamily Property For $1.93M
2649 North Beachwood Drive, Los Angeles, CA, USA
$1,935,000
$343/SF
Building Size
5,641 SF
Asset Type
MultiFamily
Closing
Feb 21, 2021
About this deal
AI
Located at 2649 N Beachwood Dr in Greater Hollywood Hills, this multifamily property recently changed hands in a sale transaction. The property consists of 6 units with a total area of 5,641 square feet. The sale price was recorded at $1,935,000, resulting in a price per unit of $322,500. The price per square foot was calculated at $343. The capitalization rate (CAP) for this property was 3.36% and the gross rent multiplier (GRM) was 15.66x.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,935,000
- Units: 6
- Price per Unit: $322,500
- Square Footage: 5,641
- Price per Square Foot: $343
- CAP: 3.36%
- GRM: 15.66x
Filip Niculete, Glen Scher, Rick Ramirez, and Jeffrey Neel were the brokers involved in this transaction. They represented the respective parties in this deal.
Players
Burbank 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
8.20%
Cash-on-Cash
-2.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93