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
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