Updated Dec 4, 2024
Arian Rejaei, Darin Beebower & Mark Ventre Broker $2.35M Multifamily Sale In Los Angeles
3280 Provon Lane
$2,350,000
Units
11
Asset Type
MultiFamily
Closing
Oct 16, 2024
About this deal
AI
The multifamily property located at 3280 Provon Lane in Los Angeles was sold for $2,350,000. This asset comprises 11 units and has a price per unit of $213,636, while achieving a 6.94% cap rate. The sale occurred amidst challenging market conditions and was finalized with an all-cash, non-contingent buyer.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,350,000
- Units: 11
- Price Per Unit: $213,636
- Cap Rate: 6.94%
- Date of Sale: 10/16/2024
- Address: 3280 Provon Lane
- Market: Los Angeles
Arian Rejaei, Darin Beebower, and Mark Ventre of Kidder Mathews represented both the buyer, a local private investor, and the seller in this transaction. Kidder Mathews facilitated the sale effectively, emphasizing their capability in handling multifamily property transactions.
On the Map
$2,350,000
MultiFamily
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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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93