Updated Sep 24, 2026
SOLDMultiFamily
Todd Melnick Sells 12 Unit Multifamily Property In Miracle Mile Los Angeles For $2.1M
630 South Cochran Avenue
$2,100,000
$228/SF
Building Size
9,196 SF
Asset Type
MultiFamily
Closing
Sep 9, 2026
About this deal
AI
This multifamily property, located at 630 South Cochran Avenue, was sold in the Los Angeles market for $2,100,000. The asset comprises 12 units, offering a total square footage of 9,196. The property had a price per unit of $175,000 and a price per square foot of $228. After being listed at $2,700,000, it experienced a prolonged market presence due to foundation issues and four vacancies.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Units: 12
- Price/Unit: $175,000
- Price/SF: $228
- GRM: 8.68
- Cap Rate: 6.75%
- Building Size: 9,196 SF
- Lot Size: 7,802 SF
- Year Built: 1927
- Vacant Units: 4
- Rent Upside Potential: 20%
- Parking: No
- On Site Laundry: Yes
The seller of the property was Todd Melnick, while the buyer was represented by Chase Simonton, Michael Torres, and Robert Carlile from Re/Max One Commercial. Daniel Glaser from Glaser Property Management represented the seller. The buyer closed all cash and non-contingent, completing the transaction with a 15-day close of escrow. Notable property upgrades included a brand new roof, a new main electrical panel and subpanels, and upgraded plumbing and sewer lines.
On the Map
$2,100,000
$228/SF
MultiFamily
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Los Angeles MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93