Paul Ling Acquires 38-Unit Multifamily In Silver Lake For $10.7M
SOLD
$10,700,000
+ 2
California
See Similar DealsMultiFamily40,281 SF
Sold
SOLD
Paul Ling Acquires 38-Unit Multifamily In Silver Lake For $10.7M
528 Benton Way, Los Angeles, California 90026, United States
See Similar DealsMultiFamily40,281 SF
Sold
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$265
Total Square Footage:40281 SF
Transaction Type:Sale
A multifamily property located at 528 N. Benton Way in Silver Lake has been sold. The property consists of 38 units and spans across 40,281 square feet. The sale price for this transaction was $10,700,000, resulting in a price per unit of $281,578 and a price per square foot of $265. The sale took place on August 12, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,700,000
- Units: 38
- Price per Unit: $281,578
- Square Footage: 40,281
- Price per Square Foot: $265
- Address: 528 N. Benton Way, Silver Lake
- Market: Silver Lake
The buyer for this transaction is Paul Ling, while the seller is Kaifa Tulay. Richard Ringer, Isaak Heitzeberg, Aaron Moayed, and Yana Vlady from Marcus & Millichap acted as the brokers in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$570,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51
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