Golden Bee Properties Acquires 5 Property Multifamily Portfolio For $18.1M
SOLD
$18,075,000
California
See Similar DealsMultiFamily5,962 SF
Sold 10/16/2019
SOLD
Golden Bee Properties Acquires 5 Property Multifamily Portfolio For $18.1M
825 East 108th Street, Los Angeles, CA, USA
See Similar DealsMultiFamily5,962 SF
Sold 10/16/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$3,031
Total Square Footage:5,962 SF
Transaction Type:Sale
A portfolio of five multifamily properties located in Canndu/Avalon Gardens, Park Mesa Height, and North Hills/Panorama City has been sold for a total price of $18,075,000. The properties included in the portfolio are situated at the following addresses: 825 E 108th Street, 6121 Crenshaw Boulevard, 6736-6780 West Boulevard, 14924 Roscoe Boulevard, and 14949 Roscoe Boulevard. The portfolio consists of a total of 105 units, with an average price per unit of $172,142.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $18,075,000
- Units: 105
- Price Per Unit: $172,142
The buyer of the portfolio is Golden Bee Properties, while the seller is The Armor Family Trust. Neema Ahadian of The Neema Group represented the buyer in the transaction.
Note: This transaction involves the sale of a portfolio consisting of five properties.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$964,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,216.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,684.72
Annual Debt Service$1,028,216.66
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