Updated Sep 9, 2024
David Lai Acquires Hollywood Multifamily For $1.965M
7011 Fountain Avenue, Central LA, Los Angeles, CA, USA
$1,965,000
$592/SF
Building Size
3,319 SF
Asset Type
MultiFamily
Closing
Oct 21, 2021
About this deal
AI
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.
On the Map
$1,965,000
$592/SF
MultiFamily
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Players
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
8.07%
Cash-on-Cash
-2.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93