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540 Indiana Avenue

Shane Moses Of Moses Commercial Acquires Venice Multifamily Property For $2.35M As Buyer's Rep
SOLDMultiFamily

Shane Moses Of Moses Commercial Acquires Venice Multifamily Property For $2.35M As Buyer's Rep

540 Indiana Avenue

$2,350,000

$804/SF

Building Size

2,922 SF

Asset Type

MultiFamily

Closing

May 17, 2024

AI

Located at 540 Indiana Avenue in Venice, this multi-family property has been successfully sold for $2,350,000. Boasting a total square footage of 2,922, the property fetched a price per square foot of $804. Representing the buyer in this transaction was Shane Moses of Moses Commercial, while Takara Adair and William Vides of Boulevard Estate Properties acted as the seller's representatives. Situated in the heart of Oakwood, this 4-plex offers immense potential for value appreciation through renovations, making it a prime investment opportunity in Venice's vibrant neighborhood.

Summary of transaction details:

Shane Moses from Moses Commercial played a pivotal role as the buyer's representative in the sale of this multifamily property, demonstrating expertise in facilitating successful real estate transactions. On the seller's side, Takara Adair and William Vides, representing Boulevard Estate Properties, effectively managed the sale process, ensuring a smooth and mutually beneficial deal for all parties involved. The collaboration between these experienced professionals highlights the significance of knowledgeable and skilled real estate representatives in closing successful property transactions.

Players

Takara Adair

Boulevard Estate Properties

Broker

$2.4M

vol

1 deal

Broker

Venice 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

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93