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Steven Jong Acquires Multifamily Property In West Hollywood For $3.8M

Property Image
SOLD
$3,800,000
Peter Sherman
Blake Olson

California

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MultiFamily7,913 SF
Sold 06/01/2022
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Property Image
SOLD

Steven Jong Acquires Multifamily Property In West Hollywood For $3.8M

925 North Curson Avenue, West Hollywood, California 90046, United States

See Similar Deals
MultiFamily7,913 SF
Sold 06/01/2022
Peter Sherman
Blake Olson
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$480
Total Square Footage:7,913 SF
Transaction Type:Sale

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.

Players

Blake Olson
Avison Young
Blake Olson
3 deals$5.9M volume(213) 618-3817
BROKER
Peter Sherman
Avison Young
Peter Sherman
7 deals$221.5M volume
BROKER

Details

SOLD
IMAGE: Peter Sherman & Blake Olson DATE: 06/01/2022 ADDRESS: 925 N. Curson Ave. MARKET: West Hollywood ASSET TYPE: Multifamily BUYER: Steven Jong SELLER: DRA Enterprises - Devin Antin BROKERS: Blake Olson (@Blake_Olson12) & Peter Sherman - Avison Young (@Avison_Young_Global) SALE PRICE: $3,800,000 UNITS: 10 ~ PPU: $380,000 SF: 7,913 ~ PPSF: $480

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

$202,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26