Riven Barton Acquires Multifamily Property In Venice, CA For $2.35M
523 Main Street, Venice, California 90291, United States
$2,350,000
$1,529/SF
Building Size
1,536 SF
Asset Type
MultiFamily
Closing
Oct 5, 2022
AI
A multifamily property located at 523 Main Street in Venice, CA has been sold for a price of $2,350,000. The property consists of 5 units, with each unit having an average price per unit of $470,000. The total square footage of the property is 1,536, resulting in a price per square foot of $1,530.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Units: 5
- Price Per Unit: $470,000
- Square Footage: 1,536
- Price Per Square Foot: $1,530
- Market: Venice, CA
The buyer of the property is Riven Barton, while the seller is Adam Surnow. Representing the seller in the transaction is Richard Ringer and Yana Vlady from 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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93