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3500 Chesapeake Avenue, Los...

Ming Ho Acquires Multifamily Property In West Adams For $9.5M
SOLDMultiFamily

Ming Ho Acquires Multifamily Property In West Adams For $9.5M

3500 Chesapeake Avenue, Los Angeles, CA, USA

$9,500,000

$464/SF

Building Size

20,449 SF

Asset Type

MultiFamily

Closing

Nov 16, 2021

AI

A multifamily property located at 3500 Chesapeake Ave in the West Adams market has been sold for $9,500,000. The transaction took place on November 16, 2021. The property consists of 22 units, with a price per unit of $431,818. It spans a total area of 20,449 square feet, resulting in a price per square foot of $464.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,500,000
  • Address: 3500 Chesapeake Ave
  • Market: West Adams

The buyer of the property is Ming Ho, while Thomas James Homes served as the seller. The deal was facilitated by the real estate brokers Shaya Braverman, Dario Svidler, and Morgan McMullin, who are affiliated with Compass agency.

Players

Morgan Mcmullin

Partners CRE

Broker

$84.3M

vol

17 deals

Broker
Compass
CompassBrokerage

Thomas James

Thomas James Homes

Seller

$118M

vol

5 deals

Seller

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

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93