Sonya Coke Acquires Multifamily Property In Los Angeles For $4.2M
503 South Catalina Street
$4,200,000
$241/SF
Building Size
17,365 SF
Asset Type
MultiFamily
Closing
Jun 24, 2024
AI
The French Eclectic Apartments, a 12-unit multi-family property located at 503 South Catalina Street in Los Angeles's Mid-Wilshire submarket, were sold for $4,200,000. The property spans 17,365 square feet and was sold for $242 per square foot. The buyer, represented by Sonya Coke of Nourmand & Associates, acquired the well-preserved property with significant income upside potential.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Units: 12
- Price Per Unit: $350,000
- Square Feet: 17,365
- Price Per Square Foot: $242
- Market: Los Angeles
- Address: 503 South Catalina Street
Sonya Coke of Nourmand & Associates represented the buyer, while Matthew Kanner of Keller Williams Realty represented the seller in the transaction involving The French Eclectic Apartments. The property offers a unique investment opportunity due to its well-preserved French Eclectic architectural details, making it an attractive acquisition for the buyer.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93