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Olympus Property Acquires West Hollywood Multifamily For $112.5M

Property Image
SOLD
$112,500,000
Rachel Parsons
Derrek Ostrzyzek
+ 1

California

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MultiFamily
Sold 03/14/2023
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Property Image
SOLD

Olympus Property Acquires West Hollywood Multifamily For $112.5M

915 North La Brea Ave,West Hollywood, Los Angeles,California

See Similar Deals
MultiFamily
Sold 03/14/2023
Rachel Parsons
Derrek Ostrzyzek
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

Olympus Property has recently acquired a multifamily property located at 915 North La Brea Ave in West Hollywood, Los Angeles. The transaction took place on March 14, 2023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $112,500,000
  • Address: 915 North La Brea Ave
  • Market: West Hollywood, Los Angeles

Berkadia's brokers, Derrek Ostrzyzek, Tom Moran, Rachel Parsons, and Mike Murphy, facilitated the deal on behalf of Olympus Property.

This transaction involved the purchase of 179 units at a price of $628,492 per unit. The property was located in the vibrant market of West Hollywood, Los Angeles.

Players

Tom Moran
3 deals$265.5M volume
BROKER

Rachel Parsons
CBRE
15 deals$1.2B volume(858) 945-0992
BROKER

Derrek Ostrzyzek
CBRE
116 deals$11.5B volume
BROKER

Mike Murphy
Berkadia
7 deals$538.3M volume
BROKER

Olympus Property
BUYER

Details

SOLD
IMAGE: Derrek Ostrzyzek, Rachel Parsons, Tom Moran & Mike Murphy DATE: 03/14/2023 ADDRESS: 915 North La Brea Ave MARKET: West Hollywood, Los Angeles ASSET TYPE: Multifamily BUYER: Olympus Property (@OlympusProperty) BROKERS: Derrek Ostrzyzek, Tom Moran, Rachel Parsons & Mike Murphy - Berkadia (@Berkadia) SALE PRICE: $112,500,000 UNITS: 179 ~ PPU: $628,492

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

$6,000,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$399,688.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$533,307.39
Annual Debt Service$6,399,688.74