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Sitco Properties Purchases Multifamily Asset From Julia Wong In Los Angeles For $3.65M

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SOLD
$3,650,000

California

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MultiFamily17,034 SF
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SOLD

Sitco Properties Purchases Multifamily Asset From Julia Wong In Los Angeles For $3.65M

4024 Nicolet Avenue

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MultiFamily17,034 SF
Sold
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$214
Total Square Footage:17034 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 4024 Nicolet Avenue in the Los Angeles market. The sale price was $3,650,000 for 20 units, which equates to a price per unit of $182,500. The total square footage of the property is 17,034, leading to a price per square foot of $214.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,650,000
  • Units: 20
  • Price Per Unit: $182,500
  • Square Feet: 17,034
  • Price Per Square Foot: $214
  • Buyer: Sitco Properties
  • Seller: Julia Wong
  • Broker Representatives: Josh Zimmerman & Sean Rosenzweig - Marcus & Millichap
  • Date of Transaction: 12/06/2024

The key individuals involved in this deal include the buyer, Sitco Properties, and the seller, Julia Wong. The transaction was facilitated by brokers Josh Zimmerman and Sean Rosenzweig from Marcus & Millichap, who represented the seller in the deal.

Players

Sean Rosenzweig
14 deals$99.4M volume
BROKER

Josh Zimmerman
Marcus & Millichap
2 deals$5.5M volume(310) 946-9442
BROKER

Details

SOLD
IMAGE: Josh Zimmerman & Sean Rosenzweig DATE: 12/06/2024 ADDRESS: 4024 Nicolet Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Sitco Properties SELLER: Julia Wong BROKERS: Josh Zimmerman (@JoshManuelz) & Sean Rosenzweig (@Sean_Rosenzweig) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $3,650,000 UNITS: 20 ~ PPU: $182,500 SF: 17,034 ~ PPSF: $214

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$12,967.69
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