Updated Sep 9, 2024
Phil Lin Acquires USC Student Housing Multifamily For $4.04M With Keller Williams Reps
2666 Orchard Avenue, Los Angeles, California 90007, United States
$4,040,000
$889/SF
Building Size
4,540 SF
Asset Type
MultiFamily
Closing
Jan 2, 2022
About this deal
AI
Located at 2666 Orchard Avenue, this multifamily property in the USC Student Housing market has recently been sold. The property consists of 7 units with a total square footage of 4,540. The sale price for this transaction was $4,040,000, resulting in a price per unit of $577,142 and a price per square foot of $889.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,040,000
- Address: 2666 Orchard Avenue
- Market: USC Student Housing
The buyer of this property is Phil Lin, while John Patterson served as the seller. The deal was facilitated by Davis Saadian and Adam Shamooelian from Keller Williams Beverly Hills acting as the brokers representing the buyer and seller, respectively.
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
3.93%
Cash-on-Cash
-1.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93