Joel Berlinksy Acquires 20-Unit Multifamily Property In Los Angeles For $6.55M
SOLD
$6,550,000
California
See Similar DealsMultiFamily28,616 SF
Sold 09/08/2023
SOLD
Joel Berlinksy Acquires 20-Unit Multifamily Property In Los Angeles For $6.55M
6707 South Springpark Avenue
See Similar DealsMultiFamily28,616 SF
Sold 09/08/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$228
Total Square Footage:28,616 SF
Transaction Type:Sale
A multifamily property located at 6707 South Springpark Avenue in Los Angeles has been sold for $6,550,000. The property consists of 20 units with an average price of $327,500 per unit. The total square footage of the property is 28,616, resulting in a price per square foot of $229.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $6,550,000
- Address: 6707 South Springpark Avenue, Los Angeles
- Units: 20
- Price per Unit: $327,500
- Square Footage: 28,616
- Price per Square Foot: $229
- Buyer: Joel Berlinksy
- Seller: Nikki Wolontis
- Brokers: Taylor Avakian & Charles Wright - Matthews Real Estate Investment Services
Joel Berlinksy was the buyer in this transaction, while Nikki Wolontis was the seller. The deal was facilitated by Taylor Avakian and Charles Wright from Matthews Real Estate Investment Services, serving as brokers for this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$349,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,270.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,050.34
Annual Debt Service$372,604.10
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