Mark Colman Acquires MultiFamily Properties In Mar Vista, CA For $15.6M
SOLD
$15,600,000
+ 2
California
See Similar DealsMultiFamily42,857 SF
Sold 09/12/2023
SOLD
Mark Colman Acquires MultiFamily Properties In Mar Vista, CA For $15.6M
4238 Lindblade Dr Los Angeles, Ca 90066, Usa
See Similar DealsMultiFamily42,857 SF
Sold 09/12/2023
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$364
Total Square Footage:42,857 SF
Transaction Type:Sale
The multi-family property located at 4238 Lindblade, 3739 Inglewood, 12625 Mitchell, 12806 Matteson, 12811 Matteson, and 12814 Pacific in Mar Vista, CA has been sold for a total price of $15,600,000. The property consists of 68 units with an average price per unit (PPU) of $229,412. The total square footage of the property is 42,857 with an average price per square foot (PPSF) of $364. The transaction had a Gross Rent Multiplier (GRM) of 12.51 and a Capitalization Rate (CAP) of 4.36%.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $15,600,000
- Units: 68
- PPU: $229,412
- Total Square Footage: 42,857
- PPSF: $364
- GRM: 12.51
- CAP: 4.36%
The buyer in this transaction is Mark Colman, while the seller is Armand Riza. The deal was facilitated by brokers Michael Monempour, Bryan Glenn, and Grant Goldman from Kidder Mathews, along with Ariel Sayani from Keller Williams.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$832,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,423.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,951.96
Annual Debt Service$887,423.50
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