David Lai Acquires Hollywood Multifamily For $1.965M
SOLD
$1,965,000
+ 1
California
See Similar DealsMultiFamily3,319 SF
Sold 10/21/2021
SOLD
David Lai Acquires Hollywood Multifamily For $1.965M
7011 Fountain Avenue, Central LA, Los Angeles, CA, USA
See Similar DealsMultiFamily3,319 SF
Sold 10/21/2021
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$592
Total Square Footage:3,319 SF
Transaction Type:Sale
A multifamily property located at 7011 Fountain Ave. in Hollywood has recently been sold for $1,965,000. The property consists of 6 units with a total square footage of 3,319. The sale price per unit is $327,500, and the price per square foot is $592.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,965,000
- Units: 6 ~ PPU: $327,500
- SF: 3,319 ~ PPSF: $592
- Address: 7011 Fountain Ave.
- Market: Hollywood
The buyer of the property is David Lai, while the seller is Russel Allyn. The sale was facilitated by Zac Freehling, Jason Shenitzer, and Tyler Farrar from Pacific Partners Los Angeles, and Victor Fonseca from Keller Williams Realty also played a role in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$104,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,981.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,315.10
Annual Debt Service$111,781.23
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