Jeff Harris Acquires Multifamily Property From Henry Manacherri At 822 Myrtle Ave Inglewood
SOLD
$2,900,000
California
See Similar DealsMultiFamily8,500 SF
Sold 02/23/2024
SOLD
Jeff Harris Acquires Multifamily Property From Henry Manacherri At 822 Myrtle Ave Inglewood
822 Myrtle Avenue
See Similar DealsMultiFamily8,500 SF
Sold 02/23/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$341
Total Square Footage:8,500 SF
Transaction Type:Sale
The multifamily property located at 822 Myrtle Avenue in Inglewood was sold for $2,900,000. The property consists of 9 units with a total square footage of 8,500. The price per unit was $322,222, and the price per square foot was $341.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Address: 822 Myrtle Avenue
- Market: Inglewood
- Units: 9
- Seller: Henry Manacherri
- Buyer: Jeff Harris
- Buyer's Rep: Alex Galuz
- Seller's Rep: Adrienne Barr - Berkadia
The buyer, Jeff Harris, was represented by Alex Galuz, while the seller, Henry Manacherri, was represented by Adrienne Barr from Berkadia in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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