Updated Dec 4, 2024
Michael Kim Acquires 6-Building Multifamily Portfolio In Los Angeles For $40.75M
4310 Russell Avenue, 2795 8th Street , 1100 South Beverly Drive, 2816 San Marino Stree & 668 S. Rampart Blvd
$40,750,000
$52/SF
Building Size
156,000 SF
Asset Type
MultiFamily
Closing
Mar 18, 2024
About this deal
AI
Located in Los Angeles, the property asset involved in this transaction is a portfolio of 6 buildings. The multifamily asset consists of 5 properties with a total of 213 units and an additional office building. The portfolio is situated at 4310 Russell Avenue, 2795 8th Street, 1100 S. Beverly Drive, 2816 San Marino Street, and 668 S. Rampart Blvd, with a total square footage of 156,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,750,000
- Units: 213
- Price Per Unit: $191,315
- Price Per Square Foot: $261
- Market: Los Angeles
Sean Nami and Neema Ahadian from Marcus & Millichap, known as TheNeemaGroup, were the seller's representatives in this transaction. They exclusively listed and closed the deal for the portfolio comprising multiple multifamily properties and one office building. The buyer, Michael Kim, purchased the portfolio with a total of 6 different buyers involved in the acquisition.
On the Map
$40,750,000
$52/SF
MultiFamily
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Los Angeles MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93