Prana Investments Acquires Multifamily Property In Koreatown For $23.6M
709 South Mariposa Avenue, Los Angeles, CA 90005
$23,625,000
$301/SF
Building Size
78,438 SF
Asset Type
MultiFamily
Closing
Jun 16, 2020
AI
The multifamily property located at 720 S. Normandie Ave. & 709 S. Mariposa Ave. in Koreatown has been sold in a closed transaction. The sale took place on 06/16/2021, with a sale price of $23,625,000. The property spans a total square footage of 78,438 and has a price per square foot of $301. The buyer of the property was Prana Investments, while the seller was Jamison. The transaction was facilitated by Brent Sprenkle, a broker representing the buyer.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $23,625,000
- Market: Koreatown
- Address: 720 S. Normandie Ave. & 709 S. Mariposa Ave.
Brent Sprenkle, a representative for Prana Investments, played a key role in the successful completion of this real estate transaction.
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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93