Morris Parisi Acquires Multifamily Property In Studio City From George Papadapoulos For $12M
SOLD
$12,000,000
California
See Similar DealsMultiFamily30,364 SF
Sold 12/11/2024
SOLD
Morris Parisi Acquires Multifamily Property In Studio City From George Papadapoulos For $12M
4184 Arch Drive
See Similar DealsMultiFamily30,364 SF
Sold 12/11/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$395
Total Square Footage:30,364 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily property located at 4184 Arch Drive in Studio City. It includes 36 units, with a total square footage of 30,364. The property was sold for a price of $12,000,000, resulting in a price per unit of $333,333 and a price per square foot of $395.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Units: 36
- Square Footage: 30,364
- Price Per Unit: $333,333
- Price Per Square Foot: $395
- Buyer: Morris Parisi
- Seller: George Papadapoulos
- Brokers: Michael Monempour - Lyon Stahl Investment Real Estate
- Brokers: David Saghian - Kidder Mathews
This transaction involved notable individuals within the real estate sector. Michael Monempour represented Lyon Stahl Investment Real Estate in the deal, while David Saghian acted on behalf of Kidder Mathews, showcasing their expertise in handling such transactions in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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