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638 Rose Avenue

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

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

638 Rose Avenue

$2,175,640

Building Size

Asset Type

MultiFamily

Closing

Apr 23, 2024

AI

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

Broker

$85.8M

vol

17 deals

Broker

Venice 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

7.29%

Cash-on-Cash

-2.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93