Updated Dec 21, 2023
Avi Razmer Acquires Multifamily Property For $17.1M In Hollywood
6700 Franklin Place, Los Angeles, California 90028, United States
$17,072,000
$417/SF
Building Size
40,876 SF
Asset Type
MultiFamily
Closing
Feb 14, 2022
About this deal
AI
Located in Hollywood, the multifamily property at 6700 Franklin Place has been sold in a recent transaction. The sale, which took place on February 15, 2022, involved a total of 42 units within the building. The property spans across 40,876 square feet and has a sale price of $17,072,000. The price per unit for this transaction stands at $406,476, while the price per square foot is estimated to be $417.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,072,000
- Units: 42
- Price per Unit: $406,476
- Square Footage: 40,876
- Price per Square Foot: $417
- Address: 6700 Franklin Place
- Market: Hollywood
The buyer of the property is Avi Razmer, while Mike Soliman acted as the seller in this transaction. The deal was facilitated by Michael Sterman from Marcus & Millichap, representing both the buyer and the seller.
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93