Hakim Family Acquires West Hollywood Multifamily For $19.6M With Brokers Jordan Asheghian & Tony Azzi - Marcus & Millichap
SOLD
$19,600,000
California
See Similar DealsMultiFamily47,832 SF
Sold 11/16/2022
SOLD
Hakim Family Acquires West Hollywood Multifamily For $19.6M With Brokers Jordan Asheghian & Tony Azzi - Marcus & Millichap
7224 Hillside Avenue
See Similar DealsMultiFamily47,832 SF
Sold 11/16/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$409
Total Square Footage:47,832 SF
Transaction Type:Sale
The multifamily property located at 7224 Hillside Avenue in West Hollywood has been sold for a total price of $19,600,000. The property consists of 39 units, with each unit having a price per unit (PPU) of approximately $502,564. The total square footage of the property is 47,832, with a price per square foot (PPSF) of $410.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,600,000
- Units: 39
- PPU: $502,564
- Square Footage: 47,832
- PPSF: $410
- Address: 7224 Hillside Avenue
- Market: West Hollywood
The buyer of the property is the Hakim Family, while the seller is Welly Yang. The deal was facilitated by Jordan Asheghian and Tony Azzi from Marcus & Millichap. The transaction was successfully closed on November 16, 2022.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,045,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,634.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,914.00
Annual Debt Service$1,114,967.99
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