Updated Oct 29, 2024
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
About this deal
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.
On the Map
$32,400,000
$462/SF
MultiFamily
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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