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9300 Wilshire LLC Acquires Multifamily Property In Beverly Hills For $4M

Property Image
SOLD
$4,000,000

California

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MultiFamily5,330 SF
Sold 09/12/2019
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Property Image
SOLD

9300 Wilshire LLC Acquires Multifamily Property In Beverly Hills For $4M

346 North Maple Drive, Beverly Hills, CA, USA

See Similar Deals
MultiFamily5,330 SF
Sold 09/12/2019
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$750
Total Square Footage:5,330 SF
Transaction Type:Sale

A multifamily property located at 346 N. Maple Drive in the prestigious Beverly Hills area of Los Angeles has been sold in a recent transaction. The property is situated in the 90210 zip code and offers a total of 8 units. The sale was facilitated by Jonathan Taksa of Taksa Investment Group.

Summary of transaction details

  • Property Type: Multifamily
  • Sale Price: $4,000,000
  • Square Footage: 5,330
  • Price per Square Foot: $750.47
  • Number of Units: 8
  • Price per Unit: $500,000
  • Buyer: 9300 Wilshire LLC
  • Seller: Maple Drive Apartments LLC

The transaction took place on September 12, 2019, and the buyer, 9300 Wilshire LLC, acquired the property in an all-cash deal. The buyer went non-contingent upon acceptance of the offer, indicating confidence in the investment. Three out of the eight units were vacant at the time of the sale, presenting opportunities for the buyer to lease them out and generate income.

Players

Jonathan (Jon) Taksa
Taksa Investment Group
Jonathan Taksa
61 deals$593.3M volume
BROKER

Details

SOLD
IMAGE: Jonathan Taksa @jtaksa DATE: 9/12/2019 ADDRESS: 346 N. Maple Drive MARKET: Beverly Hills ASSET TYPE: Multifamily BUYER: 9300 Wilshire LLC SELLER: Maple Drive Apartments LLC BROKER: Jonathan Taksa - Taksa Investment Group PRICE: $4,000,000 SF: 5,330 ~ PPSF: $750.47 UNITS: 8 PPU: $500,000 NOTES: Prestigious Beverly Hills apartment building in the 90210 zip code. Delivered with 3 out of 8 units vacant. All cash transaction, and Buyer went non contingent upon Acceptance of offer.

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

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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
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