Alhambra Place Partnership Acquires Multifamily Property In Koreatown For $29.2M
SOLD
$29,250,000
California
See Similar DealsMultiFamily14,750 SF
Sold 11/06/2019
SOLD
Alhambra Place Partnership Acquires Multifamily Property In Koreatown For $29.2M
2867 Sunset Place, Los Angeles, CA, USA
See Similar DealsMultiFamily14,750 SF
Sold 11/06/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,983
Total Square Footage:14,750 SF
Transaction Type:Sale
The multifamily property located at 2867 Sunset Place in Koreatown has been sold in a transaction valued at $29,250,000. The property consists of 60 units, with a price per unit of $487,500. The sale was completed on November 6, 2019. The seller, CGI Strategies, sold the property to the buyer, Alhambra Place Partnership. The transaction was facilitated by brokers Laurie Lustig-Bower and Kamran Paydar from CBRE.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,250,000
- Address: 2867 Sunset Place
- Market: Koreatown
- Units: 60
- Price per Unit: $487,500
Laurie Lustig-Bower and Kamran Paydar from CBRE played instrumental roles as the brokers representing the seller and buyer respectively.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,560,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,919.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,659.92
Annual Debt Service$1,663,919.07
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