Updated Dec 21, 2023
Daniel Sands Acquires Multifamily Property In Koreatown For $8.5M
827 Gramercy Drive, Los Angeles, California 90005, United States
$8,500,000
$326/SF
Building Size
26,040 SF
Asset Type
MultiFamily
Closing
Mar 28, 2022
About this deal
AI
An multifamily property located at 827 S. Gramercy Dr. in Koreatown has been sold for $8,500,000. The property consists of 30 units with an average price per unit of $283,333. The total square footage of the property is 26,040, resulting in a price per square foot of $326.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Address: 827 S. Gramercy Dr.
- Market: Koreatown
- Units: 30
- Price per Unit: $283,333
- Total Square Footage: 26,040
- Price per Square Foot: $326
The buyer of the property is Daniel Sands, while the seller is Carl Kim. The deal was facilitated by Michael Sterman from Marcus & Millichap as the representative for both buyers and sellers.
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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93