Michael Lai Acquires 11-Unit Multifamily Property In Los Angeles, Koreatown For $3.9M
4250 West 1st Street, Los Angeles, CA 90004, USA
$3,900,000
$400/SF
Building Size
9,750 SF
Asset Type
MultiFamily
Closing
Nov 3, 2020
AI
An 11-unit multifamily property located at 4250 W. 1st Street in Los Angeles, Koreatown, has been sold for $3,900,000. The property spans 9,750 square feet, resulting in a price per square foot of $400. The buyer, Michael Lai, acquired the asset from Tekton Investments. The transaction was facilitated by Peter Yorck, Nick Lavin, and AJ Fritts of JLL.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $3,900,000
- Square Footage: 9,750
- Price per Square Foot: $400
- Units: 11
- Price per Unit: $354,545
- Buyer: Michael Lai
- Seller: Tekton Investments
- Brokers: Peter Yorck, Nick Lavin, AJ Fritts - JLL
For more information on the trade, please contact Nick Lavin at [email protected].
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93