Tower Lane Capital Acquires Multifamily Property In Mar Vista For $6.6M
SOLD
California
See Similar DealsMultiFamily11,957 SF
Sold 03/14/2022
SOLD
Tower Lane Capital Acquires Multifamily Property In Mar Vista For $6.6M
3939 Moore Street, Los Angeles, California 90066, United States
See Similar DealsMultiFamily11,957 SF
Sold 03/14/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$552
Total Square Footage:11,957 SF
Transaction Type:Sale
The multifamily property located at 3939 Moore St. in Mar Vista has been sold for a total price of $6,600,000. The transaction took place on March 14, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,600,000
- Address: 3939 Moore St.
- Market: Mar Vista
Tower Lane Capital, represented by Michael Maltzman and Garrett Green, acquired the property from the seller, Gerald Williams. The deal was facilitated by Kyle Mirrafati of Matthews Real Estate Investment Services.
The multifamily property consists of 12 units, with a per unit price of $550,000. It spans a total of 11,957 square feet, resulting in a price per square foot of $551.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41
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