Updated Oct 29, 2024
Cypres Real Estate Advisors Inc. Acquires Multifamily Property On W. Sunset Blvd For $38M
5837 West Sunset Boulevard, Los Angeles, CA 90028
$38,000,000
$536/SF
Building Size
70,812 SF
Asset Type
MultiFamily
Closing
May 12, 2019
About this deal
AI
Cornerstone Holdings and Harridge Development Group have sold a multifamily property located at 5837 W. Sunset Blvd for a total of $38,000,000. The transaction took place on May 13, 2019. The property consists of 79 units, with a price per unit of $481,012. The buyer in this transaction was Cypres Real Estate Advisors Inc.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $38,000,000
- Address: 5837 W. Sunset Blvd
- Units: 79
- Price per Unit: $481,012
The sale of the property was facilitated by the brokerage firm CushWake. John Burnham & Dudley Simmons captured an image of the property prior to the sale. Cypres Real Estate Advisors Inc. acted as the buyer in the transaction, while Cornerstone Holdings and Harridge Development Group served as the sellers.
On the Map
$38,000,000
$536/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93