Updated Oct 28, 2024
Steven Jong Acquires Multifamily Property In West Hollywood For $3.8M
925 North Curson Avenue, West Hollywood, California 90046, United States
$3,800,000
$480/SF
Building Size
7,913 SF
Asset Type
MultiFamily
Closing
May 31, 2022
About this deal
AI
The recently closed property transaction in West Hollywood involved a multifamily asset located at 925 N. Curson Ave. The property spans across 7,913 square feet and consists of 10 units. The sale price for this transaction was $3,800,000, making the price per unit $380,000. The price per square foot is calculated to be $480.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,800,000
- Units: 10
- Price Per Unit: $380,000
- Square Footage: 7,913
- Price Per Square Foot: $480
- Market: West Hollywood
- Buyer: Steven Jong
- Seller: DRA Enterprises - Devin Antin
- Brokers: Blake Olson & Peter Sherman - Avison Young
The buyer, Steven Jong, had acquired this property from the seller, DRA Enterprises. The transaction was facilitated by brokers Blake Olson and Peter Sherman from Avison Young. This successful deal contributes to the thriving real estate market in West Hollywood.
On the Map
$3,800,000
$480/SF
MultiFamily
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Players
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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93