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Diana Nguyen Acquires Fourplex In West Hollywood From Lorna Berle For $1.86M

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SOLD
$1,860,000

California

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MultiFamily2,572 SF
Sold 09/13/2024
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Property Image
SOLD

Diana Nguyen Acquires Fourplex In West Hollywood From Lorna Berle For $1.86M

833 Westmount Drive

See Similar Deals
MultiFamily2,572 SF
Sold 09/13/2024
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$723
Total Square Footage:2,572 SF
Transaction Type:Sale

This multifamily property, located at 833 Westmount Drive in West Hollywood, has been sold for $1,860,000. The asset comprises 4 units with a total square footage of 2,572, translating to a price per unit of $465,000 and a price per square foot of $723.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,860,000
  • Address: 833 Westmount Drive
  • Market: West Hollywood
  • Units: 4
  • Square Feet: 2,572
  • Price per Unit: $465,000
  • Price per Square Foot: $723
  • Buyer: Diana Nguyen
  • Seller: Lorna Berle - West Hollywood Holding
  • Buyer's Rep: Bonnie Yi Hyde - Compass
  • Seller's Rep: Nechama Jacobs - The Bienstock Group

In this transaction, Diana Nguyen emerged as the successful buyer, guided by Bonnie Yi Hyde of Compass. Lorna Berle, the seller and widow of Milton Berle, engaged Nechama Jacobs from The Bienstock Group as her representative. The deal attracted significant interest, with Ms. Nguyen competing against eight other bidders to acquire the property.

Players

Nechama Jacobs
2 deals$4.2M volume(973) 975-3970
BROKER

Bonnie Yi Hyde
Compass
2 deals$4M volume(310) 905-0128
BROKER

Details

SOLD
IMAGE: Bonnie Yi Hyde & Nechama Jacobs DATE: 09/13/2024 ADDRESS: 833 Westmount Drive MARKET: West Hollywood ASSET TYPE: Multifamily BUYER: Diana Nguyen SELLER: Lorna Berle - West Hollywood Holding BUYER'S REP: Bonnie Yi Hyde (@Bonnie.realestate) - Compass (@Compass) SELLER'S REP: Nechama Jacobs - The Bienstock Group (@TheBienstockGroup) SALE PRICE: $1,860,000 UNITS: 4 ~ PPU: $465,000 SF: 2,572 ~ PPSF: $723 NOTE FROM BROKER: In a notable real estate transaction, Lorna Berle, widow of the legendary personality Milton Berle, has sold a renowned fourplex located in prime West Hollywood. With the strategic guidance of buyer agent Bonnie Hyde, Ms. B. Nguyen triumphed over eight other bidders to become the proud new owner of this iconic multi-unit property.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$6,608.19
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