Justin Stein Acquires 6-Unit Multifamily In West Hollywood For $2.05M
SOLD
$2,050,000
California
See Similar DealsMultiFamily7,797 SF
Sold 11/07/2023
SOLD
Justin Stein Acquires 6-Unit Multifamily In West Hollywood For $2.05M
537 North Kings Road
See Similar DealsMultiFamily7,797 SF
Sold 11/07/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$262
Total Square Footage:7,797 SF
Transaction Type:Sale
537 North Kings Road, located in West Hollywood, has been sold in a recent transaction. The multifamily property, consisting of 6 units, was purchased by Justin Stein for a total sale price of $2,050,000. This translates to a price per unit of $341,667. Spanning across 7,797 square feet, the property commanded a price per square foot of $263.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,050,000
- Address: 537 North Kings Road, West Hollywood
- Buyer: Justin Stein
- Seller: Abraham Perlmuter
- Buyer's Representative: Ariel Sayani - Keller Williams
- Units: 6
- Price Per Unit: $341,667
- Square Footage: 7,797
- Price Per Square Foot: $263
Ariel Sayani, representing Justin Stein in the transaction, was the buyer's representative from Keller Williams. The sale of this multifamily property marks a significant investment in West Hollywood's real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$109,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55
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