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Spot Service Station LLC Acquires 15-Unit Multifamily Property In Los Angeles For $4.95M

Property Image
SOLD
$4,950,000
Brent Sprenkle
Alex Peterson

California

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MultiFamily
Sold 12/12/2024
the dealplayerscompscontact
Property Image
SOLD

Spot Service Station LLC Acquires 15-Unit Multifamily Property In Los Angeles For $4.95M

7370 Hawthorn Avenue

See Similar Deals
MultiFamily
Sold 12/12/2024
Brent Sprenkle
Alex Peterson
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The 15-unit multifamily property located at 7370 Hawthorn Avenue in Los Angeles was acquired for $4,950,000. The asset is positioned near Hollywood Boulevard and Sunset Boulevard, with opportunities for value-add improvements given its below-market rents and desirable location close to Runyon Canyon and Downtown LA.

Summary of transaction details:

Alex Peterson and Brent Sprenkle represented the buyer, Spot Service Station, LLC, in this transaction, facilitating the acquisition of the property, which presents further investment potential in a competitive market.

Players

Brent Sprenkle
NorthMarq
Brent Sprenkle
11 deals$112.5M volume(310) 470-4892
BROKER
Alex Peterson
NorthMarq
Alex Peterson
4 deals$25.5M volume(213) 248-7047
BROKER

Details

SOLD
IMAGE: Alex Peterson & Brent Sprenkle DATE: 12/12/2024 ADDRESS: 7370 Hawthorn Avenue MARKET: Los Angeles ASSET TYPE: Multifamily BUYER: Spot Service Station, LLC BROKERS: Alex Peterson & Brent Sprenkle (@Brent.Sprenkle) - NorthMarq (@NorthMarq) SALE PRICE: $4,950,000 UNITS: 15 ~ PPU: $330,000 NOTE: Spot Service Station, LLC acquired the 15-unit 7370 Hawthorn Avenue Apartments in Los Angeles for $4.95M. The property, located near Hollywood Boulevard and Sunset Boulevard, offers value-add potential with below-market rents and proximity to Runyon Canyon and Downtown LA.

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

$264,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,586.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,465.53
Annual Debt Service$281,586.30