Prana Investments Acquires Multifamily Property In Koreatown For $23.6M
SOLD
$23,625,000
California
See Similar DealsMultiFamily78,438 SF
Sold 06/16/2020
SOLD
Prana Investments Acquires Multifamily Property In Koreatown For $23.6M
709 South Mariposa Avenue, Los Angeles, CA 90005
See Similar DealsMultiFamily78,438 SF
Sold 06/16/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$301
Total Square Footage:78,438 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,260,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,934.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,994.55
Annual Debt Service$1,343,934.63
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