Russell Jones Acquires Multifamily Property In Los Feliz For $10M
SOLD
$10,000,000
California
See Similar DealsMultiFamily19,045 SF
Sold 07/27/2022
SOLD
Russell Jones Acquires Multifamily Property In Los Feliz For $10M
5200 Franklin Avenue
See Similar DealsMultiFamily19,045 SF
Sold 07/27/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$525
Total Square Footage:19,045 SF
Transaction Type:Sale
The multifamily property located at 5200 Franklin Ave in Los Feliz has been sold for $10,000,000. The sale was facilitated by broker Paul Darrow. The property consists of 18 units, with an average price per unit of $555,556. The total square footage of the property is 19,045, resulting in a price per square foot of $525.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Address: 5200 Franklin Ave
- Market: Los Feliz
- Broker: Paul Darrow
- Seller: Champion Development - Parker Champion
- Buyer: Russell Jones
- Units: 18
- Price Per Unit: $555,556
- Square Footage: 19,045
- Price Per Square Foot: $525
Russell Jones is the buyer of the property, while Champion Development, represented by Parker Champion, acted as the seller. Paul Darrow, serving as the broker, facilitated the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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