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Jon Tran of Partners CRE Represents Buyer in $3.83M Multifamily Sale in Los Angeles

Property Image
SOLD
$3,832,000
Jon Tran
Elizabeth Maddox
Ian Maddox

California

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MultiFamily9,249 SF
Sold 02/12/2025
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Property Image
SOLD

Jon Tran of Partners CRE Represents Buyer in $3.83M Multifamily Sale in Los Angeles

724 North Kingsley Drive

See Similar Deals
MultiFamily9,249 SF
Sold 02/12/2025
Jon Tran
Elizabeth Maddox
Ian Maddox
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$414
Total Square Footage:9,249 SF
Transaction Type:Sale

A multifamily property located at 724 North Kingsley Drive in the Los Angeles market has been sold for $3,832,000. This newly built six-unit building spans 9,249 square feet, equating to a price per unit of $638,667 and a price per square foot of $414. The property is projected to generate $332,400 in annual rent at a 6.07% pro forma cap rate.

Summary of transaction details:

This transaction featured Jon Tran of Keller Williams Beverly Hills representing the buyer. The sellers, Elizabeth and Ian Maddox, are specialists in 2-4 unit properties, showcasing their expertise in this market segment.

Players

Elizabeth Maddox
The 2-4 Unit Specialists
Elizabeth Maddox
26 deals$80.4M volume
BROKER
Ian Maddox
The 2-4 Unit Specialists
Ian Maddox
24 deals$72.4M volume
BROKER
Jon Tran
Partners CRE
Jon Tran
3 deals$28.8M volume(310) 492-6075
BROKER
Keller Williams Realty
Keller Williams Realty
BROKERAGE

Details

SOLD
IMAGE: Jon Tran, Elizabeth Maddox & Ian Maddox DATE: 02/12/2025 ADDRESS: 724 North Kingsley Drive MARKET: Los Angeles ASSET TYPE: Multifamily BUYER'S REP: Jon Tran - Partners CRE (@Partners.CRE) SELLER'S REP: Elizabeth Maddox (@ElizabethjMaddox) & Ian Maddox (@Ian_Maddox) - The 2-4 Unit Specialists (@TwotoFourUnits) SALE PRICE: $3,832,000 UNITS: 6 ~ PPU: $638,667 SF: 9,249 ~ PPSF: $414 NOTE: Jon Tran of Keller Williams Beverly Hills represented the buyer in the $3.83 million sale of a newly built six-unit property at 724 N Kingsley Dr. The 9,249-square-foot Melrose Hill building, represented by Elizabeth and Ian Maddox, is projected to generate $332,400 in annual rent at a 6.07% pro forma cap rate.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$204,373.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,614.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,165.63
Annual Debt Service$217,987.62