Updated Oct 29, 2024
Mark Lurie Purchases West Adams Multifamily For $2.5M
4037 W 28th St, Los Angeles, CA 90018, USA
$2,500,000
$280/SF
Building Size
8,925 SF
Asset Type
MultiFamily
Closing
Jul 15, 2020
About this deal
AI
The multifamily property located at 4037 W. 28th St in West Adams has been sold. The transaction took place on July 16, 2020.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Square Footage: 8,925
- Price Per Square Foot: $280.11
- Number of Units: 12
- Price Per Unit: $208,333
- GRM: 13.5
- CAP: 4.67%
The buyer of the property is Mark Lurie, while Mayer Cap is the seller. The deal was facilitated by brokers Michael Monempour and Ramin Gheitanchi from Kidder Matthews. The property was purchased at a price of $2,500,000, with each unit priced at $208,333. The square footage of the property is 8,925, and the price per square foot is $280.11. The Gross Rent Multiplier (GRM) is 13.5, and the capitalization rate (CAP) is 4.67%. This transaction marks a successful acquisition for the buyer, fulfilling their property requirements.
On the Map
$2,500,000
$280/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93