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842 Palm Ave, West Hollywoo...

Dr. Stanley A. Sirott Acquires Multifamily Property On Palm Ave, West Hollywood For $7.25M
SOLDMultiFamily

Dr. Stanley A. Sirott Acquires Multifamily Property On Palm Ave, West Hollywood For $7.25M

842 Palm Ave, West Hollywood, CA, USA

$7,250,000

$424/SF

Building Size

17,089 SF

Asset Type

MultiFamily

Closing

Feb 17, 2021

AI

The multifamily property located at 842 Palm Ave in West Hollywood has been sold in a recent transaction. The property consists of 22 units spanning across 17,089 square feet. The sale price for this transaction was $7,250,000, resulting in a per unit price of approximately $329,545. The price per square foot for the property is approximately $424.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,250,000
  • Address: 842 Palm Ave, West Hollywood
  • Market: West Hollywood

The buyer for this transaction is Dr. Stanley A. Sirott, while the seller is The Terrance R. Anderson Living Trust. The deal was facilitated by David Leibowitz, a representative from David Leibowitz agency.

Players

David Leibowitz

IREA

Broker

$111.7M

vol

15 deals

Broker

Terrance Anderson

The Terrance R. Anderson Living Trust

Seller

$13.9M

vol

3 deals

Seller

West Hollywood 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

2.19%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93