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
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