Danny Abrams Acquires Multifamily Property In West Hollywood For $2.05M
SOLD
$2,050,000
California
See Similar DealsMultiFamily4,804 SF
Sold 12/28/2021
SOLD
Danny Abrams Acquires Multifamily Property In West Hollywood For $2.05M
7661 Fountain Avenue, Los Angeles, CA 90046
See Similar DealsMultiFamily4,804 SF
Sold 12/28/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$426
Total Square Footage:4,804 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$109,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55
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