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Janette Monfared & Zachary Rosen Of Marcus & Millichap Broker $2.05M Sale Of North Hollywood Multifamily Asset
SOLD
$2,050,000
California
See Similar DealsMultiFamily7,532 SF
Sold 05/20/2024
SOLD
Janette Monfared & Zachary Rosen Of Marcus & Millichap Broker $2.05M Sale Of North Hollywood Multifamily Asset
4710 Colfax Avenue
See Similar DealsMultiFamily7,532 SF
Sold 05/20/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$272
Total Square Footage:7,532 SF
Transaction Type:Sale
4710 Colfax Avenue, a timeless 8-unit apartment community located in North Hollywood, has been sold for $2.05 million. The property offers swift access to major employment hubs and world-class amenities, presenting a significant rental upside for the new buyer.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,050,000
- Units: 8
- Price Per Unit: $256,250
- Square Footage: 7,532
- Price Per Square Foot: $272
- Address: 4710 Colfax Avenue
- Market: North Hollywood
Janette Monfared & Zachary Rosen from Marcus & Millichap were the brokers in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$109,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55
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