Ocean Breeze Apartments LLC Acquires Multifamily Property In Mar Vista For $6.12M
SOLD
$6,125,000
+ 1
California
See Similar DealsMultiFamily13,208 SF
Sold 07/15/2019
SOLD
Ocean Breeze Apartments LLC Acquires Multifamily Property In Mar Vista For $6.12M
3745-3753 South Barrington Avenue, Mar Vista, Los Angeles, CA, USA
See Similar DealsMultiFamily13,208 SF
Sold 07/15/2019
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$463
Total Square Footage:13,208 SF
Transaction Type:Sale
The multifamily property located at 3745-3753 S. Barrington Avenue in Mar Vista has been sold for $6,125,000. This property spans 13,208 square feet, with a price per square foot of $463.73. The transaction involved the sale of 22 units, with each unit priced at $278,409.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,125,000
- Address: 3745-3753 S. Barrington Avenue, Mar Vista
- Market: Mar Vista
The buyer of this property is Ocean Breeze Apartments LLC, while the seller is Barrington Avenue LLC. The brokers involved in this deal are Alan Friedman, Jeff Pierce, Errol Spiro, and Jon Bloom.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$326,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,760.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,035.62
Annual Debt Service$348,427.50
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