Charles Chung Acquires Multifamily Property At 5700 South Van Ness Avenue For $1 Million
SOLD
$1,000,000
+ 1
California
See Similar DealsMultiFamily2,478 SF
Sold 08/30/2024
SOLD
Charles Chung Acquires Multifamily Property At 5700 South Van Ness Avenue For $1 Million
5700 South Van Ness Avenue
See Similar DealsMultiFamily2,478 SF
Sold 08/30/2024
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$403
Total Square Footage:2,478 SF
Transaction Type:Sale
5700 South Van Ness Avenue is a multifamily asset located in the Los Angeles market. The property encompasses 2,478 square feet and comprises 5 units, achieving a price point of $1,000,000, which translates to $200,000 per unit and $403 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Units: 5
- Square Footage: 2,478
- Price Per Unit: $200,000
- Price Per Square Foot: $403
- Cap Rate: 7.24%
- Buyer: Charles Chung
- Seller: SoLa Impact
- Brokers: William James, Peter James, Aaron Jacobson & Taylor Avakian - Lyon Stahl Investment Real Estate
Lyon Stahl Investment Real Estate facilitated the sale of 5700 South Van Ness Avenue, which is part of an 8 Property Portfolio. Other properties within the portfolio remain available for potential buyers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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