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
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