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530 North Spaulding Avenu

James Giovino Acquires Multifamily Property On N. Spaulding Ave. For $3.2M
SOLDMultiFamily

James Giovino Acquires Multifamily Property On N. Spaulding Ave. For $3.2M

530 North Spaulding Avenu

$3,200,000

$727/SF

Building Size

4,400 SF

Asset Type

MultiFamily

Closing

Jul 21, 2022

AI

The multifamily property at 530 N. Spaulding Ave. in the Melrose Fairfax market has been sold for a total price of $3,200,000. The property consists of 4 units, with a price per unit of $800,000. The total square footage of the property is 4,400, with a price per square foot of $727.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,200,000
  • Units: 4
  • Price Per Unit: $800,000
  • Square Footage: 4,400
  • Price Per Square Foot: $727
  • Address: 530 N. Spaulding Ave.
  • Market: Melrose Fairfax

The buyer of the property is James Giovino. The seller is Elijah Korobkian and Maxx Feldman, represented by The Goldfinger Group. The buyer's representatives in the deal are Michael Sterman and Michael Kamara from Marcus & Millichap.

Players

Michael Sterman

Marcus & Millichap

Broker

$307.7M

vol

39 deals

Broker
Maxx Feldman

Maxx Feldman

The Goldfinger Group

Seller

$59.3M

vol

17 deals

Seller
The Goldfinger Group
The Goldfinger GroupSeller

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

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93