Updated Oct 29, 2024
Iowa 1 LLC Acquires Multifamily In Beverly Grove For $6.5M
8355 Blackburn Ave, Los Angeles, CA 90048, USA
$6,500,000
$466/SF
Building Size
13,939 SF
Asset Type
MultiFamily
Closing
Apr 23, 2020
About this deal
AI
An multifamily property located at 8355 Blackburn Avenue in Beverly Grove has been sold for a price of $6,500,000. The property consists of 21 units with a total square footage of 13,939. The price per square foot is calculated as $466.32, while the price per unit is $309,523. The deal was closed during the coronavirus pandemic without any adjustments to the price.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Square Footage: 13,939 SF
- Price per Square Foot: $466.32
- Number of Units: 21
- Price per Unit: $309,523
The buyer of the property is Iowa 1 LLC, while the seller is Bordeaux Investments. The deal was facilitated by brokers Michael Sterman, Jordan Asheghian, and Tony Azzi.
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93