TA Realty Acquires Venice Multifamily Property For $65M With Buyer's Rep James O. Buckingham & Seller's Rep Timothy J. Naughton
512 Rose Ave, Venice, CA 90291, USA
$65,000,000
$83,655/SF
Building Size
777 SF
Asset Type
MultiFamily
Closing
Sep 10, 2020
AI
The multifamily property located at 512 Rose Avenue in Venice has been sold for a price of $65,000,000. The property consists of 70 units, resulting in a per unit price of $928,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Units: 70
- Price Per Unit: $928,500
TA Realty, represented by James O. Buckingham, acquired the property from AvalonBay Communities, represented by Timothy J. Naughton. The transaction was facilitated by Marcus & Millichap.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93