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Max Berger & Sabine Pleissner Of Compass Broker Sale Of Venice Multifamily For $2.17M

Property Image
SOLD
$2,175,640
Max Berger
Sabine Pleissner

California

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MultiFamily
Sold 04/23/2024
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Property Image
SOLD

Max Berger & Sabine Pleissner Of Compass Broker Sale Of Venice Multifamily For $2.17M

638 Rose Avenue

See Similar Deals
MultiFamily
Sold 04/23/2024
Max Berger
Sabine Pleissner
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

A 4-unit multifamily building located at 638 Rose Avenue in Venice was recently sold for $2,175,640. The property offers 2-bedroom, 1-bathroom units with upgraded amenities, including washer/dryer units and balconies for upper-level units. There is also potential for future value-add through an additional dwelling unit (ADU) in a separate 4-car garage structure.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,175,640
  • Units: 4
  • Price per Unit: $543,910
  • Address: 638 Rose Avenue
  • Market: Venice

Max Berger and Sabine Pleissner of Compass represented the transaction for the sale of the multifamily building at 638 Rose Avenue in Venice. The property features 2-bedroom, 1-bathroom units with various upgraded amenities, offering a comfortable living space for its residents.

Players

Max Berger
Compass
Max Berger
17 deals$85.8M volume(818) 321-4972
BROKER
Sabine Pleissner
Compass
Sabine Pleissner
1 deal$2.2M volume(310) 745-1055
BROKER

Details

SOLD
IMAGE: Max Berger & Sabine Pleissner DATE: 04/23/2024 ADDRESS: 638 Rose Avenue MARKET: Venice ASSET TYPE: Multifamily BROKERS: Max Berger (@BergerMax) & Sabine Pleissner (@SabinePleissner) - Compass (@Compass) SALE PRICE: $2,175,640 UNITS: 4 ~ PPU: $543,910 NOTE: In Venice, a 4-unit multifamily building located at 638 Rose Avenue was sold for $2,175,640, with Max Berger and Sabine Pleissner of Compass representing the transaction. The property features 2-bedroom, 1-bathroom units, with upgraded amenities including washer/dryer units, balconies for upper-level units, and potential for future value-add through an additional dwelling unit (ADU) in a separate 4-car garage structure.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$116,034.12

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,729.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,313.64
Annual Debt Service$123,763.72