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Mar Vista Lofts 4 LLC Acquires 21-Unit Multifamily Property From Park Towers For $9M

Property Image
SOLD
$9,000,000
Kitty Wallace
Melanie Nutting

California

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MultiFamily
Sold 02/05/2025
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Property Image
SOLD

Mar Vista Lofts 4 LLC Acquires 21-Unit Multifamily Property From Park Towers For $9M

3996 Inglewood Boulevard

See Similar Deals
MultiFamily
Sold 02/05/2025
Kitty Wallace
Melanie Nutting
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 3992-3996 Inglewood Boulevard in Los Angeles. The sale price for the property was $9,000,000, which breaks down to approximately $428,571 per unit. The building consists of 21 units and is situated in a market known for its growth potential, particularly in the vicinity of Silicon Beach and Venice Beach.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,000,000
  • Units: 21
  • Price Per Unit: $428,571
  • Buyer: Mar Vista Lofts 4 LLC
  • Seller: Park Towers (1990) Corporation
  • Brokers: Kitty Wallace & Melanie Nutting - Colliers

The deal was made with Mar Vista Lofts 4 LLC acquiring the property from Park Towers (1990) Corporation. Brokers Kitty Wallace and Melanie Nutting facilitated the transaction through Colliers. The buyer, a local apartment developer and a family office, intends to enhance the property to boost cash flow in the burgeoning Mar Vista area.

Players

Kitty Wallace
Colliers
Kitty Wallace
23 deals$759.8M volume
BROKER
Melanie Nutting
Colliers
Melanie Nutting
3 deals$48.1M volume(310) 622-1903
BROKER

Details

SOLD
IMAGE: Kitty Wallace & Melanie Nutting DATE: 02/05/2025 ADDRESS: 3992-3996 Inglewood Boulevard MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Mar Vista Lofts 4 LLC SELLER: Park Towers (1990) Corporation BROKERS: Kitty Wallace & Melanie Nutting - Colliers (@ColliersInternational) SALE PRICE: $9,000,000 UNITS: 21 ~ PPU: $428,571 NOTE: Mar Vista Lofts, a 21-unit building in Los Angeles, sold for $9M ($428.5K/unit) to a local apartment developer and a family office. The buyer plans to improve the property to increase cash flow in the growing Mar Vista market, near Silicon Beach and Venice Beach.

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

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10