Updated Nov 22, 2023
Marcus & Millichap Sells South Westmoreland Avenue Property For $9.6M
523 South Westmoreland Avenue, Los Angeles, CA, USA
$9,575,000
$938/SF
Building Size
10,200 SF
Asset Type
MultiFamily
Closing
Nov 20, 2018
About this deal
AI
The property located at 523 South Westmoreland Avenue has been sold for a total price of $9,575,000. The transaction took place on November 21, 2018. The property spans over 10,200 square feet, resulting in a price per square foot of $316. It consists of 56 units and was sold at an average price per unit of $170,982. The capitalization rate for this transaction is 3.68% with a gross rent multiplier of 13.21.
Summary of transaction details
- Property Type: SALE
- Transaction Amount: $9,575,000
- Square Footage: 10,200
- Price per Square Foot: $316
- Number of Units: 56
- Price per Unit: $170,982
- Capitalization Rate: 3.68%
- Gross Rent Multiplier: 13.21
The sale of the property was facilitated by broker Sean Rosenzweig from Marcus & Millichap. He represented either the buyer or seller in the transaction, acting as their representative.
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
1.66%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93