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7661 Fountain Avenue, Los A...

Danny Abrams Acquires Multifamily Property In West Hollywood For $2.05M
SOLDMultiFamily

Danny Abrams Acquires Multifamily Property In West Hollywood For $2.05M

7661 Fountain Avenue, Los Angeles, CA 90046

$2,050,000

$426/SF

Building Size

4,804 SF

Asset Type

MultiFamily

Closing

Dec 28, 2021

AI

Located in West Hollywood, the multifamily property at 7661 Fountain Ave was recently sold. The transaction took place on December 28, 2021, with a sale price of $2,050,000. The property consists of 6 units, with a price per unit (PPU) of $341,666. The total square footage is 4,804, resulting in a price per square foot (PPSF) of $426.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,050,000
  • Units: 6
  • Price per Unit (PPU): $341,666
  • Square Footage: 4,804
  • Price per Square Foot (PPSF): $426

The buyer of the property was Danny Abrams, while the seller was Monday Justice. The deal was facilitated by brokers Sam Liberow from [AGENCY] and Max Gersht. Their expertise and negotiation skills played a crucial role in finalizing the transaction.

Players

Max Gersht

Marcus & Millichap

Broker

$66M

vol

20 deals

Broker

Monday Justice

Seller

$7.7M

vol

3 deals

Seller

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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93