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7975 Melrose Avenue

Brandon Makhani, Tyler Makhani, And Chloe Makhani Acquire Retail Property In West Hollywood For $3.55M
SOLDMultiFamily

Brandon Makhani, Tyler Makhani, And Chloe Makhani Acquire Retail Property In West Hollywood For $3.55M

7975 Melrose Avenue, 7977 Melrose Avenue & 710 North Edinburgh Avenue

$3,550,000

$385/SF

Building Size

9,201 SF

Asset Type

MultiFamily

Closing

Dec 8, 2023

AI

The retail property located at 7975, 7977 Melrose Avenue & 710 North Edinburgh Avenue in Los Angeles, West Hollywood has been sold in a closed transaction for $3,550,000. The property spans a total of 3,067 square feet, resulting in a price per square foot of $1,157.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,550,000
  • Address: 7975, 7977 Melrose Avenue & 710 North Edinburgh Avenue, Los Angeles, West Hollywood
  • Market: Los Angeles, West Hollywood
  • Buyer: Brandon Makhani, Tyler Makhani & Chloe Makhani - Avondale Equities
  • Seller: Nicholas Janneck
  • Buyer's Representative: Steve Ravan - South Park Group
  • Seller's Representatives: Jaysen Chiaramonte & Ed Sachse - Kennedy Wilson
  • Tenants: Community Goods, Moscot & Vettese

The purchase was facilitated by the buyer's representative, Steve Ravan of South Park Group, and the seller's representatives, Jaysen Chiaramonte and Ed Sachse of Kennedy Wilson. Notable tenants of the property include Community Goods, Moscot, and Vettese.

Players

Steve Ravan

South Park Group

Broker

$83M

vol

17 deals

Broker
Avondale Equities
Avondale EquitiesBuyer
Kennedy Wilson
Kennedy WilsonLender

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

4.47%

Cash-on-Cash

-1.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93