California Home Builders Acquires Multifamily Property In Playa Vista For $230.7M
SOLD
$230,700,000
California
See Similar DealsMultiFamily
Sold 08/17/2022
SOLD
California Home Builders Acquires Multifamily Property In Playa Vista For $230.7M
5901 Center Drive, Los Angeles, California 90045, United States
See Similar DealsMultiFamily
Sold 08/17/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 5901 Center Drive in Playa Vista has been sold for a total price of $230,700,000. The transaction took place on August 17, 2022. The property consists of 376 units, resulting in a price per unit of $614,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $230,700,000
- Address: 5901 Center Drive
- Market: Playa Vista
The buyer of the property is California Home Builders, represented by Sharon Evenhaim. The seller is Mill Creek Residential, represented by Bill MacDonald.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$12,304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$819,628.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,093,635.70
Annual Debt Service$13,123,628.37
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