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4959 Romaine Street, Los An...

Adam Norvell Of Manhattan West Asset Management And Darin Beebower & Mark Ventre Of Kidder Mathews Facilitate $17.22M Sale Of 46-unit Multifamily Portfolio In Los Angeles
SOLDMultiFamily

Adam Norvell Of Manhattan West Asset Management And Darin Beebower & Mark Ventre Of Kidder Mathews Facilitate $17.22M Sale Of 46-unit Multifamily Portfolio In Los Angeles

4959 Romaine Street, Los Angeles, California 90029, United States

$17,220,000

Building Size

Asset Type

MultiFamily

Closing

Sep 11, 2022

AI

A multifamily property located at 4959 Romaine St, 4575 Maplewood Ave, 4018 Monroe St, and 368 N Avenue 57 in Los Angeles has been sold for a total price of $17,220,000. The property consists of 46 units, with an average price per unit of $374,348. The sale was facilitated by Adam Norvell from Manhattan West Asset Management, and Darin Beebower & Mark Ventre from Kidder Mathews.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,220,000
  • Units: 46
  • Price Per Unit: $374,348
  • Brokers: Adam Norvell - Manhattan West Asset Management; Darin Beebower & Mark Ventre - Kidder Mathews

This transaction highlights the successful collaboration between different parties involved in the deal. Adam Norvell represented Manhattan West Asset Management, while Darin Beebower and Mark Ventre represented Kidder Mathews. Their expertise and negotiation skills played a crucial role in the completion of this transaction.

Players

Darin Beebower

Kidder Mathews

Broker

$137.7M

vol

15 deals

Broker

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.92%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93