Michael Lai Acquires 11-Unit Multifamily Property In Los Angeles, Koreatown For $3.9M
SOLD
$3,900,000
California
See Similar DealsMultiFamily9,750 SF
Sold 11/04/2020
SOLD
Michael Lai Acquires 11-Unit Multifamily Property In Los Angeles, Koreatown For $3.9M
4250 West 1st Street, Los Angeles, CA 90004, USA
See Similar DealsMultiFamily9,750 SF
Sold 11/04/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$400
Total Square Footage:9,750 SF
Transaction Type:Sale
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].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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