Jerry Wise Acquires 8-Unit Multifamily On Menlo Avenue In Los Angeles For $6.2M
SOLD
$6,250,000
California
See Similar DealsMultiFamily15,252 SF
Sold 01/02/2023
SOLD
Jerry Wise Acquires 8-Unit Multifamily On Menlo Avenue In Los Angeles For $6.2M
2832 Menlo Avenue
See Similar DealsMultiFamily15,252 SF
Sold 01/02/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$409
Total Square Footage:15,252 SF
Transaction Type:Sale
A multifamily property located at 2832 Menlo Avenue in Los Angeles has been sold in a closed transaction. The property consists of 8 units with a total square footage of 15,252. The sale price for this transaction was $6,250,000, resulting in a price per unit of $781,250 and a price per square foot of $410.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Address: 2832 Menlo Avenue
- Market: Los Angeles
- Buyer: Jerry Wise
- Seller: Taeko Lei
- Brokers: Davis Saadian & Nicole Sakhai - DSG X AKG
- Units: 8
- Price per Unit: $781,250
- Square Footage: 15,252
- Price per Square Foot: $410
The buyer for this transaction is Jerry Wise, while the seller is Taeko Lei. The deal was facilitated by brokers Davis Saadian and Nicole Sakhai from DSG X AKG. These key individuals played a crucial role in the success of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26
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