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Bill Hwang Acquires Multifamily Property From Mike Schultze In Los Angeles For $3.03M

Property Image
SOLD
$3,028,000
Everett Wong
Cormac McCain

California

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MultiFamily8,780 SF
Sold
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Property Image
SOLD

Bill Hwang Acquires Multifamily Property From Mike Schultze In Los Angeles For $3.03M

3636 Keystone Avenue

See Similar Deals
MultiFamily8,780 SF
Sold
Everett Wong
Cormac McCain
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$344
Total Square Footage:8780 SF
Transaction Type:Sale

The property is a multifamily asset located at 3636 Keystone Avenue in the Los Angeles market. The sale price was $3,028,000 for a total of 10 units, resulting in a price per unit of $302,800. The structure encompasses 8,780 square feet, with a price per square foot of $344.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,028,000
  • Address: 3636 Keystone Avenue
  • Buyer: Bill Hwang
  • Seller: Mike Schultze
  • Brokers: Cormac McCain & Everett Wong - Greysteel
  • Units: 10
  • Square Footage: 8,780
  • Price Per Unit: $302,800
  • Price Per Square Foot: $344

The transaction involved key individuals including buyer Bill Hwang and seller Mike Schultze. The brokers representing the deal were Cormac McCain and Everett Wong from Greysteel, facilitating the completion of this multifamily property transaction.

Players

Everett Wong
Greysteel
Everett Wong
13 deals$35.9M volume(310) 439-5790
BROKER
Cormac McCain
Greysteel
Cormac McCain
2 deals$5.7M volume(310) 889-0641
BROKER

Details

SOLD
IMAGE: Cormac McCain & Everett Wong DATE: 29/04/2025 ADDRESS: 3636 Keystone Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Bill Hwang SELLER: Mike Schultze BROKERS: Cormac McCain (@CormacMcCain) & Everett Wong - Greysteel (@TheGreysteelCompany) SALE PRICE: $3,028,000 UNITS: 10 ~ PPU: $302,800 SF: 8,780 ~ PPSF: $344

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

$161,493.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,757.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,354.26
Annual Debt Service$172,251.18