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5563 Carlin Street

Henry Horn & Joe Myers Buy West Adams Multifamily For $2.25M In Los Angeles As Buyer's Reps
SOLDMultiFamily

Henry Horn & Joe Myers Buy West Adams Multifamily For $2.25M In Los Angeles As Buyer's Reps

5563 Carlin Street

$2,250,000

$436/SF

Building Size

5,158 SF

Asset Type

MultiFamily

Closing

May 3, 2024

AI

5563 Carlin Street, a new construction income property located in prime West Adams, Los Angeles, was sold for $2,250,000 at a price per square foot of $436. The property features three spacious apartments, including a large 6-bedroom, 4-bathroom two-story house and two 3-bedroom, 3-bathroom units in the rear building. Each unit comes equipped with stainless steel appliances, central HVAC systems, and modern upgrades, offering potential for owner-user, short-term rental, or co-living opportunities. Situated in a highly desirable area near Adams Blvd and La Cienega, the property provides convenient access to Culver City, Arts District, Leimert Park, Beverly Grove, and major employment hubs like Amazon Studios, Sony Pictures, and HBO.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,250,000
  • Address: 5563 Carlin Street
  • Market: Los Angeles
  • Square Footage: 5,158
  • Price Per Square Foot: $436

Henry Horn and Joe Myers from Compass represented the buyer in the transaction, while Benjamin J. Hsiang from Realty Investment Advisors and Enrique Viramontes from Remax Commercial and Investment Realty represented the seller. The property's location in prime West Adams, Los Angeles, offers proximity to various desirable areas and major employment centers, making it an attractive investment opportunity in the multifamily asset class.

Players

Benjamin J. Hsiang

Realty Investment Advisors

Broker

$2.3M

vol

1 deal

Broker

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

7.05%

Cash-on-Cash

-2.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93