Rockpoint Group Acquires East Hollywood Apartment Building For $34.3M In Off-Market Deal
SOLD
$34,300,000
California
See Similar DealsMultiFamily
Sold 03/07/2017
SOLD
Rockpoint Group Acquires East Hollywood Apartment Building For $34.3M In Off-Market Deal
4150 Marathon St, Los Angeles, CA, 9...
See Similar DealsMultiFamily
Sold 03/07/2017
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in the transaction is a 94-unit apartment building located at 4150 Marathon St in Los Angeles. The building, situated in the East Hollywood area, was purchased by Rockpoint Group for $34.3 million from seller SKS Trading Co. The apartment complex consists of two-bedroom units and is not subject to rent control regulations.
Summary of transaction details:
- Property Type: Apartment Building
- Transaction Amount: $34,300,000.00
- Address: 4150 Marathon St, Los Angeles, CA
- Market: Los Angeles
- Buyer: Rockpoint Group
- Seller: SKS Trading Co
The buyer, Rockpoint Group, was represented in the off-market deal by Zac Freehling, who is the founder and principal of Pacific Partners Real Estate Investments. The seller, SKS Trading Co, was represented by Jason Shenitzer, vice president at Pacific Partners Real Estate Investments, along with David Regalado, an associate at the same firm.
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LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,829,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$121,860.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$162,599.50
Annual Debt Service$1,951,193.99
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