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RCK Properties Acquires Palms Multifamily For $1.5M

Property Image
SOLD
$1,500,000

California

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MultiFamily4,378 SF
Sold 08/02/2019
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Property Image
SOLD

RCK Properties Acquires Palms Multifamily For $1.5M

3517 S Sepulveda Blvd, Palms, Los Angeles, CA, USA

See Similar Deals
MultiFamily4,378 SF
Sold 08/02/2019
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$342
Total Square Footage:4,378 SF
Transaction Type:Sale

The multifamily property located at 3517 S Sepulveda Blvd in Palms was recently sold for $1,500,000. The property spans a total of 4,378 square feet, resulting in a price per square foot of $342. This transaction involved the sale of five units, with a price per unit of $300,000. The sale took place on August 2, 2019.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,500,000
  • Square Footage: 4,378
  • Price per Square Foot: $342
  • Number of Units: 5
  • Price per Unit: $300,000
  • Market: Palms

Warren Berzack of Leela North Ventura Brokers represented the seller, Jean M Bjorkman Rev. Trust, in this transaction. The buyer was RCK Properties. Warren Berzack served as the broker for the deal.

Players

Warren Berzack
12 deals$148M volume
BROKER

SELLER

Details

SOLD
IMAGE: Warren Berzack DATE: 8/2/2019 ADDRESS: 3517 S Sepulveda Blvd MARKET: Palms ASSET TYPE: Multifamily SELLER: Jean M Bjorkman Rev. Trust BUYER: RCK Properties BROKER: Warren Berzack @leelanorthventurabrokers PRICE: $1,500,000 SF: 4,378 ~ PPSF: $342 UNITS: 5 PPU: $300,000

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

$79,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18