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Goodfriend & Jacobs Acquires Multifamily Property In Baldwin Hills For $2.4M

Property Image
SOLD
$2,400,000

California

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MultiFamily9,133 SF
Sold 10/10/2018
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Property Image
SOLD

Goodfriend & Jacobs Acquires Multifamily Property In Baldwin Hills For $2.4M

4150 Hillcrest Drive

See Similar Deals
MultiFamily9,133 SF
Sold 10/10/2018
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$262
Total Square Footage:9,133 SF
Transaction Type:Sale

A multifamily property located at 4150 Hillcrest Dr. in Baldwin Hills has been sold for $2,400,000. The property spans across 9,133 square feet with a price per square foot of $262. The transaction took place on October 10, 2018.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,400,000
  • Address: 4150 Hillcrest Dr.
  • Market: Baldwin Hills
  • Square Footage: 9,133
  • Price Per Square Foot: $262

Goodfriend & Jacobs purchased the property from Kelly Kane LLC. The deal was facilitated by David Kaufman of Tamarack Commercial, who represented the buyer in the transaction.

Notably, the multifamily units at 4150 Hillcrest Dr. were designed and built by Ray Kappe, an award-winning Mid-Century Modern architect.

Players

David Kaufman
9 deals$39.6M volume
BROKER

Details

SOLD
IMAGE: David Kaufman @davidbkaufman DATE: 10/10/2018 ADDRESS: 4150 Hillcrest Dr. MARKET: Baldwin Hills ASSET TYPE: Multifamily PRICE: $2,400,000 SF: 9,133 PPSF: $262 BUYER: Goodfriend & Jacobs SELLER: Kelly Kane LLC BROKERS: David Kaufman @tamarackcommercial NOTE: 8 Multifamily units designed & built by Ray Kappe, an award winning Mid-Century Modern architect.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
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