Omninet Capital Acquires Multifamily Property In Koreatown For $32.4M
535 S Kingsley Dr, Los Angeles, CA 90020, USA
$32,400,000
$462/SF
Building Size
70,000 SF
Asset Type
MultiFamily
Closing
Jul 21, 2020
AI
The property involved in this transaction is a multifamily asset located at 535 S. Kingsley Dr in Koreatown. This property spans a total of 70,000 square feet and was sold for a price of $32,400,000, resulting in a price per square foot of $465. The asset consists of 72 units, with each unit having a price per unit of $450,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,400,000
- Address: 535 S. Kingsley Dr
- Market: Koreatown
- Square Footage: 70,000
- Price per Square Foot: $465
- Number of Units: 72
- Price per Unit: $450,000
The buyer in this transaction is Omninet Capital, represented by Neil Kadisha. The seller is Jamison Properties, with Jaime Lee 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93