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8777 Cadillac LLC Acquires Multifamily Property In La Cienega Heights For $2.15M

Property Image
SOLD
$2,150,000

California

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MultiFamily7,029 SF
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SOLD

8777 Cadillac LLC Acquires Multifamily Property In La Cienega Heights For $2.15M

8777 Cadillac Avenue, Los Angeles, CA, USA

See Similar Deals
MultiFamily7,029 SF
Sold
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$305
Total Square Footage:7029 SF
Transaction Type:Sale

Located in La Cienega Heights, the multifamily property at 8777 Cadillac Avenue recently changed hands in a sale transaction. The property encompasses a total of 7,029 square feet and consists of 6 units. The sale price for this transaction was $2,150,000, resulting in a price per square foot of $305.88. The buyer of the property was 8777 Cadillac LLC, while the seller was New Start Holdings LP. The deal was facilitated by the brokerage team of Everett Wong, Peter Gladish, and Adam Ginsberg from Greysteel.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,150,000
  • Square Footage: 7,029
  • Price per Square Foot: $305.88
  • Units: 6
  • Buyer: 8777 Cadillac LLC
  • Seller: New Start Holdings LP
  • Brokers: Everett Wong, Peter Gladish, Adam Ginsberg - Greysteel

The successful sale of 8777 Cadillac Avenue was made possible by the collaboration between the buyer, 8777 Cadillac LLC, and the seller, New Start Holdings LP. Everett Wong, Peter Gladish, and Adam Ginsberg, all representing Greysteel, played a pivotal role in facilitating this transaction. Their expertise and negotiation skills contributed to the smooth execution of the deal.

Players

Everett Wong
13 deals$35.9M volume(310) 439-5790
BROKER

Peter Gladish
1 deal$2.2M volume
BROKER

Adam Ginsberg
2 deals$4.6M volume
BROKER

Details

SOLD
IMAGE: Everett Wong, Peter Gladish & Adam Ginsberg @greysteel_la DATE: 12/13/2019 ADDRESS: 8777 Cadillac Avenue MARKET: La Cienega Heights ASSET TYPE: Multifamily PRICE: $2,150,000 SF: 7,029 PPSF: $305.88 UNITS: 6 PPU: $358,333 BUYER: 8777 Cadillac LLC SELLER: New Start Holdings LP BROKERS: Everett Wong, Peter Gladish, Adam Ginsberg - Greysteel

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

$114,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16