James Giovino Acquires Multifamily Property On N. Spaulding Ave. For $3.2M
SOLD
$3,200,000
California
See Similar DealsMultiFamily4,400 SF
Sold 07/21/2022
SOLD
James Giovino Acquires Multifamily Property On N. Spaulding Ave. For $3.2M
530 North Spaulding Avenu
See Similar DealsMultiFamily4,400 SF
Sold 07/21/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$727
Total Square Footage:4,400 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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