Tyler Makhani, Brandon Makhani, And Chloe Makhani Acquire Multifamily Property In Los Angeles For $11.95M
8700 West Third Street & 309 South Hamel Road
$11,950,000
$582/SF
Building Size
20,520 SF
Asset Type
MultiFamily
Closing
Oct 18, 2023
AI
Avondale Equities, represented by Steve Anavim of Conroy Commercial, has acquired a multifamily property in Los Angeles for a sale price of $11,950,000. The property is located at 8700 West 3rd Street & 309 South Hamel Road and spans a total of 10,260 square feet. The price per square foot for this transaction was $1,165.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $11,950,000
- Buyer: Tyler Makhani, Brandon Makhani, and Chloe Makhani (Avondale Equities)
- Seller: Sean MacPherson
- Buyer's Representative: Steve Anavim (Conroy Commercial)
- Seller's Representative: Michael Monempour (Lyon Stahl)
The acquisition was led by Avondale Equities, a real estate investment firm represented by Steve Anavim of Conroy Commercial. The seller, Sean MacPherson, entrusted the transaction to Michael Monempour of Lyon Stahl. This deal marks a significant transaction in the Los Angeles market, showcasing the continued robustness of the multifamily asset class.
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
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93