David Reiman Acquires Multifamily Property From Prana Investments For $2.82M In Los Angeles
SOLD
$2,820,000
California
See Similar DealsMultiFamily10,292 SF
Sold 06/17/2025
SOLD
David Reiman Acquires Multifamily Property From Prana Investments For $2.82M In Los Angeles
5737 Lexington Avenue
See Similar DealsMultiFamily10,292 SF
Sold 06/17/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:10,292 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 5737 Lexington Avenue in Los Angeles. The sale was finalized for $2,820,000, encompassing 20 units within a total square footage of 10,292, resulting in a price per unit of $141,000 and a price per square foot of $273.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,820,000
- Units: 20
- Square Footage: 10,292
- Price Per Unit: $141,000
- Price Per Square Foot: $273
- Buyer: David Reiman
- Seller: Prana Investments
- Brokers: Jeffrey Estrada & Neema Ahadian - Marcus & Millichap
Key individuals involved in this deal include the buyer David Reiman and the seller Prana Investments, with the brokerage representation provided by Jeffrey Estrada and Neema Ahadian from Marcus & Millichap, handling the transaction on behalf of the seller.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$150,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,018.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,368.24
Annual Debt Service$160,418.86
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