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Optimus Properties Acquires Multifamily Property In Mar Vista For $6.7M

Property Image
SOLD
$6,700,000

California

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MultiFamily15,748 SF
Sold 12/27/2021
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Property Image
SOLD

Optimus Properties Acquires Multifamily Property In Mar Vista For $6.7M

3721 Westwood Boulevard, Los Angeles, CA 90034

See Similar Deals
MultiFamily15,748 SF
Sold 12/27/2021
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$425
Total Square Footage:15,748 SF
Transaction Type:Sale

The multifamily property located at 3721 Westwood in Mar Vista has been sold for a price of $6,700,000. The property consists of 21 units with an average price per unit of $319,047. The total square footage of the property is 15,748, with a price per square foot of $425.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,700,000
  • Address: 3721 Westwood
  • Market: Mar Vista
  • Buyer: Optimus Properties
  • Seller: Wardenburg Trust
  • Broker: Paul Darrow (THG Multifamily) - Marcus & Millichap
  • Units: 21
  • Price per Unit: $319,047
  • Square Footage: 15,748
  • Price per Square Foot: $425

The transaction was facilitated by the broker Paul Darrow, representing THG Multifamily and Marcus & Millichap. The involvement of these key individuals and companies played a crucial role in the successful completion of the deal.

Players

Paul Darrow
Walker & Dunlop
Paul Darrow
16 deals$216.2M volume
BROKER
Marcus & Millichap
Marcus & Millichap
BROKERAGE
Optimum Properties
Optimum Properties
BUYER

Details

SOLD
IMAGE: Paul Darrow DATE: 12/27/2021 ADDRESS: 3721 Westwood MARKET: Mar Vista ASSET TYPE: Multifamily BUYER: Optimus Properties SELLER: Wardenburg Trust BROKER: Paul Darrow (@I.Am.Paul.D) (THG Multifamily) - Marcus & Millichap SALE PRICE: $6,700,000 UNITS: 21 ~ PPU: $319,047 SF: 15,748 ~ PPSF: $425

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
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