Michael Maltzman Purchases Multifamily Asset On South Sepulveda Boulevard For $4.93M
SOLD
$4,925,000
California
See Similar DealsMultiFamily14,741 SF
Sold 11/22/2024
SOLD
Michael Maltzman Purchases Multifamily Asset On South Sepulveda Boulevard For $4.93M
420 South Sepulveda Boulevard
See Similar DealsMultiFamily14,741 SF
Sold 11/22/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$334
Total Square Footage:14,741 SF
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 420 South Sepulveda Boulevard in Los Angeles. It was sold for a total of $4,925,000. The property consists of 24 units, encompassing a total square footage of 14,741, which results in a per-unit price of $205,208 and a price per square foot of $334.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,925,000
- Units: 24
- Square Footage: 14,741
- Price Per Unit: $205,208
- Price Per Square Foot: $334
The buyer of the property is Michael Maltzman, represented by Matt Ziegler from Marcus & Millichap. The transaction details reflect a successful closing and underline the active multifamily market in Los Angeles.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$262,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,497.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,347.01
Annual Debt Service$280,164.15
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