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Shahdad Javaheri Acquires 8-Unit Multifamily In Miracle Mile For $3.4M

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SOLD
$3,400,000

California

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MultiFamily8,597 SF
Sold 03/23/2022
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Property Image
SOLD

Shahdad Javaheri Acquires 8-Unit Multifamily In Miracle Mile For $3.4M

845 South Mansfield Avenue, Los Angeles, California 90036, United States

See Similar Deals
MultiFamily8,597 SF
Sold 03/23/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$395
Total Square Footage:8,597 SF
Transaction Type:Sale

The recently closed transaction in Miracle Mile involved the sale of a multifamily property located at 845 S. Mansfield Ave. The property spans across 8,597 square feet and consists of 8 units. The sale price for this asset was $3,400,000, resulting in a price per unit of $425,000 and a price per square foot of $395.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,400,000
  • Address: 845 S. Mansfield Ave.
  • Market: Miracle Mile
  • Units: 8
  • Price per Unit: $425,000
  • Square Footage: 8,597
  • Price per Square Foot: $395

The buyer in this transaction was Shahdad Javaheri, while George Chronis acted as the seller. Vinnie Park from Coldwell Banker represented the seller in this deal.

Players

Vinnie Park
2 deals$9.7M volume
BROKER

Details

SOLD
IMAGE: Vinnie Park DATE: 03/23/2022 ADDRESS: 845 S. Mansfield Ave. MARKET: Miracle Mile ASSET TYPE: Multifamily BUYER: Shahdad Javaheri SELLER: George Chronis SELLER’S REP: Vinnie Park (@ParkVinnie) - Coldwell Banker SALE PRICE: $3,400,000 UNITS: 8 ~ PPU: $425,000 SF: 8,597 ~ PPSF: $395

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$181,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82