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Michael Sterman Of Marcus & Millichap Oversees $2.53M Multifamily Sale In Los Angeles
SOLD
$2,530,000
California
See Similar DealsMultiFamily9,216 SF
Sold 05/21/2024
SOLD
Michael Sterman Of Marcus & Millichap Oversees $2.53M Multifamily Sale In Los Angeles
444 South Manhattan Place
See Similar DealsMultiFamily9,216 SF
Sold 05/21/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:9,216 SF
Transaction Type:Sale
The multifamily property located at 444 South Manhattan Place in Los Angeles has been recently sold for $2,530,000, with a total square footage of 9,216 and a price per square foot of $275.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,530,000
- Address: 444 South Manhattan Place
- Market: Los Angeles
Michael Sterman from Marcus & Millichap was the broker overseeing this transaction. With his expertise, the deal for the multifamily property at 444 South Manhattan Place was successfully closed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$134,933.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,988.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,993.49
Annual Debt Service$143,921.89
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