Kevin Zarabi Acquires Hollywood Multifamily For $3.5M
6350 Willoughby Avenue, Central LA, Los Angeles, CA, USA
$3,525,000
$339/SF
Building Size
10,386 SF
Asset Type
MultiFamily
Closing
Apr 16, 2019
AI
A closed multifamily property transaction took place in Hollywood. The property, located at 6350 Willoughby Ave, was sold on April 17, 2019. The buyer, Kevin Zarabi, purchased the property for $3,525,000. The property spans across 10,386 square feet with a price per square foot of $339. This value-add multifamily property is a repositioning opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,525,000
- Address: 6350 Willoughby Ave
- Market: Hollywood
- Square Footage: 10,386
- Price per Square Foot: $339
- Buyer: Kevin Zarabi
- Brokers: Peter Strauss - Iconic Investments
- Notes: Value-Add Multifamily Repositioning
The deal was facilitated by Peter Strauss from Iconic Investments, who represented Kevin Zarabi in this transaction.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.50%
Cash-on-Cash
-1.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93