Brian Evans And Alex Menache Acquire Multifamily Asset On Fernwood Avenue For $6.56M
SOLD
$6,555,175
California
See Similar DealsMultiFamily24,088 SF
Sold 04/28/2025
SOLD
Brian Evans And Alex Menache Acquire Multifamily Asset On Fernwood Avenue For $6.56M
5405 Fernwood Avenue
See Similar DealsMultiFamily24,088 SF
Sold 04/28/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$272
Total Square Footage:24,088 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily unit located at 5405 Fernwood Avenue in the Los Angeles market. The sale price was $6,555,175, featuring 28 units and encompassing a total area of 24,088 square feet, resulting in a price per unit of $234,113 and a price per square foot of $272.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,555,175
- Units: 28
- Square Footage: 24,088
- Price Per Unit: $234,113
- Price Per Square Foot: $272
- Buyer: Brian Evans & Alex Menache
- Seller: James McKenna
- Broker: Daniel Withers - Matthews Real Estate Investment Services
- Date of Sale: 4/28/2025
The deal was facilitated by broker Daniel Withers, representing Matthews Real Estate Investment Services, who played a pivotal role in the transaction between the buyer and seller, ensuring a smooth process throughout the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$349,609.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,289.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,074.87
Annual Debt Service$372,898.49
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