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George Papanikolas Acquires Multifamily Property In Los Angeles For $4M

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SOLD
$4,000,000

California

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MultiFamily9,456 SF
Sold 12/23/2022
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Property Image
SOLD

George Papanikolas Acquires Multifamily Property In Los Angeles For $4M

3359 Rowena Avenue

See Similar Deals
MultiFamily9,456 SF
Sold 12/23/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$423
Total Square Footage:9,456 SF
Transaction Type:Sale

The multifamily property located at 3359 Rowena Avenue in Los Angeles has been sold in a recent transaction. The property consists of 12 units with a total square footage of 9,456. The sale price for this transaction was $4,000,000, making the price per unit $333,333. The price per square foot was $423.

Summary of transaction details

George Papanikolas was the buyer in this transaction, while Ann Manning acted as the seller. The brokers who facilitated the deal were Zac Freehling from Pacific Partners Real Estate Investments, and David Regalado and Matthew Kanner from Keller Williams.

Players

Matthew Kanner
10 deals$96.3M volume
BROKER

Zac Freehling
Pacific Partners Real Estate Investments
61 deals$237.5M volume
BROKER

David Regalado
10 deals$59M volume
BROKER

Details

SOLD
IMAGE: Zac Freehling, David Regalado, Matthew Kanner DATE: 12/23/2022 ADDRESS: 3359 Rowena Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: George Papanikolas SELLER: Ann Manning BROKERS: Zac Freehling - Pacific Partners Real Estate Investments; David Regalado & Matthew Kanner - Keller Williams SALE PRICE: $4,000,000 UNITS: 12 ~ PPU: $333,333 SF: 9,456 ~ PPSF: $423

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49