Updated Oct 29, 2024
Hoover LA LLC Acquires Multifamily Property In Silver Lake For $7.9M
563 N Hoover St, Los Angeles, CA 90004, USA
$7,865,000
$705/SF
Building Size
11,143 SF
Asset Type
MultiFamily
Closing
Jun 9, 2020
About this deal
AI
The multifamily property located at 563 N. Hoover Avenue in Silver Lake has been sold. The transaction took place on 06/10/2020, with a sale price of $7,865,000. The property spans an area of 11,143 square feet, resulting in a price per square foot of $705.82. It comprises 11 units, with an average price per unit of $715,000. The capitalization rate for this deal stands at 4.52%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,865,000
- Square Footage: 11,143
- Price per Square Foot: $705.82
- Number of Units: 11
- Price per Unit: $715,000
- Capitalization Rate: 4.52%
Kenny Stevens and Max Berger from the Kenny Stevens Team served as the brokers in this sale on behalf of the buyer, Hoover LA LLC, and the seller, Hoover Commonwealth LLC.
Players
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
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93