Brian Sullivan Acquires Multifamily Property On Market Street In Venice Beach For $3.85M
52 Market Street, Venice, California 90291, United States
$3,850,000
$738/SF
Building Size
5,216 SF
Asset Type
MultiFamily
Closing
Jan 31, 2022
AI
The property involved in this transaction is a multifamily asset located at 52-60 Market Street in Venice Beach, California. The property consists of 8 units with a total square footage of 5,216. The sale price for this transaction was $3,850,000, resulting in a price per unit of $481,250 and a price per square foot of $738.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,850,000
- Address: 52-60 Market Street, Venice Beach, California
- Units: 8
- Price per Unit: $481,250
- Square Footage: 5,216
- Price per Square Foot: $738
- Buyer: Brian Sullivan
- Seller: The Russell G. Sherman Trust
- Broker: Laura Alice - Eve Capital
Brian Sullivan acted as the buyer in this transaction, while The Russell G. Sherman Trust acted as the seller. The broker representing the buyer and seller in this deal was Laura Alice, from Eve Capital.
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
4.12%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93