Ken Ishiki Acquires Multifamily Property In Covina For $11.85M
SOLD
$11,850,000
California
See Similar DealsMultiFamily35,746 SF
Sold 12/24/2020
SOLD
Ken Ishiki Acquires Multifamily Property In Covina For $11.85M
4540 North Lark Ellen Avenue, Covina, CA, USA
See Similar DealsMultiFamily35,746 SF
Sold 12/24/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$331
Total Square Footage:35,746 SF
Transaction Type:Sale
Located in Covina's market, the multifamily property at 4540 N Lark Ellen Ave was recently sold. The transaction took place on 12/24/2020, with a sale price of $11,850,000. The property consists of 44 units, offering an average per unit price of $269,318. Spanning across 35,746 square feet, the property has a price per square foot of $331. The cap rate for this transaction is 4.52%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,850,000
- Address: 4540 N Lark Ellen Ave
- Market: Covina
- Buyer's Representative: Ken Ishiki
- Seller's Representatives: Mason Rowland & Ryan Rembert
- Units: 44
- Average Price Per Unit: $269,318
- Square Footage: 35,746
- Price Per Square Foot: $331
- Cap Rate: 4.52%
Ken Ishiki acted as the buyer's representative in this transaction. The seller's representatives were Mason Rowland and Ryan Rembert from Rembert.Rowland.RE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$631,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,100.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,175.05
Annual Debt Service$674,100.55
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