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Evan Monroe Brokers $4.5M Sale Of 21-Unit Highland Park Multifamily

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SOLD
$4,500,000

California

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MultiFamily16,388 SF
Sold 06/26/2024
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SOLD

Evan Monroe Brokers $4.5M Sale Of 21-Unit Highland Park Multifamily

6817 North Figueroa Street

See Similar Deals
MultiFamily16,388 SF
Sold 06/26/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:16,388 SF
Transaction Type:Sale

The 21-unit apartment complex located at 6817 North Figueroa Street in Los Angeles's Highland Park neighborhood was sold for $4.5 million. The property, built in the 1950s, offers a mix of 1- and 2-bedroom units spanning 16,388 square feet. The price per unit was $214,286, and the price per square foot was $275.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,500,000
  • Units: 21
  • Square Footage: 16,388
  • Price per Unit: $214,286
  • Price per Square Foot: $275
  • Address: 6817 North Figueroa Street, Los Angeles
  • Market: Los Angeles

Evan Monroe of Growth Investment Group served as the broker for the transaction. The property presents a significant value-add opportunity through renovation and is strategically located near transit and freeway access.

Players

Evan Monroe
2 deals$7.2M volume(626) 340-3826
BROKER

Details

SOLD
IMAGE: Evan Monroe DATE: 06/26/2024 ADDRESS: 6817 North Figueroa Street MARKET: Los Angeles ASSET TYPE: Multifamily BROKER: Evan Monroe - Growth Investment Group (@GrowthInvestmentGroup) SALE PRICE: $4,500,000 UNITS: 21 ~ PPU: $214,286 SF: 16,388 ~ PPSF: $275 NOTE: Evan Monroe of Growth Investment Group brokered the $4.5 million sale of a 21-unit apartment complex at 6817 North Figueroa Street in Los Angeles's Highland Park neighborhood. Built in the 1950s, the property offers a mix of 1- and 2-bedroom units and presents a significant value-add opportunity through renovation, strategically located near transit and freeway access.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
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