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Robert Bellamy And Tony Azzi Of Vita Equities Acquire Multifamily Properties For $13.25M

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SOLD
$13,250,000
Adam Tischer
Grant Lammersen
+ 2

California

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MultiFamily242,028 SF
Sold 09/17/2024
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Property Image
SOLD

Robert Bellamy And Tony Azzi Of Vita Equities Acquire Multifamily Properties For $13.25M

4717 Don Lorenzo Drive, 601 West Hyde Park Boulevard, 605 West Hyde Park Boulevard & 11941 Acacia Avenue

See Similar Deals
MultiFamily242,028 SF
Sold 09/17/2024
Adam Tischer
Grant Lammersen
+ 2
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$54
Total Square Footage:242,028 SF
Transaction Type:Sale

The transaction involved multiple properties located at 4717 Don Lorenzo Drive, 601 West Hyde Park Boulevard, 605 West Hyde Park Boulevard, and 11941 Acacia Avenue in the Los Angeles Inglewood & Hawthorne market. The total sale price for these assets was $13,250,000, encompassing 78 units with a total square footage of 60,507. The price per unit stands at $169,871, while the price per square foot is $218.

Summary of transaction details:

Adam Tischer, Grant Lammersen, Juan Najera, and Joshua Carrillo facilitated the sale on behalf of both the buyer and seller. Financing was arranged by mortgage broker Bradley Buzil.

Players

Adam Tischer
5 deals$55.8M volume
BROKER

Bradley Buzil
Marcus & Millichap
13 deals$105.7M volume(312) 888-1525
BROKER

Grant Lammersen
Colliers
1 deal$13.3M volume(801) 441-5924
BROKER

Juan Najera
Colliers
1 deal$13.3M volume(213) 417-3323
BROKER

Joshua Carrillo
Colliers
1 deal$13.3M volume(213) 327-3410
BROKER

Details

SOLD
IMAGE: Robert Bellamy, Tony Azzi, Grant Lammersen, Adam Tischer, Juan Najera, Joshua Carrillo & Bradley Buzil DATE: 09/17/2024 ADDRESS: 4717 Don Lorenzo Drive, 601 West Hyde Park Boulevard, 605 West Hyde Park Boulevard & 11941 Acacia Avenue MARKET: Los Angeles Inglewood & Hawthorne ASSET TYPE: MultiFamily BUYER: Robert Bellamy & Tony Azzi - Vita Equities (@VitaEquities) SELLER: John Kosty BROKERS: Adam Tischer, Grant Lammersen, Juan Najera & Joshua Carrillo - Colliers (@ColliersInternational) MORTGAGE BROKER: Bradley Buzil (@BBuzil) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $13,250,000 UNITS: 78 ~ PPU: $169,871 SF: 60,507 ~ PPSF: $218 NOTE FROM BROKER: Adam Tischer, Grant Lammersen, Juan Najera and Joshua Carrillo facilitated the Sale on behalf of the Buyer and Seller. Bradley Buzil arranged financing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$706,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,074.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,811.76
Annual Debt Service$753,741.12