Adam Rubin & Andrew Shanfeld Acquire Melrose Place Multifamily For $2.81M From Seller Solica Griffith
SOLD
$2,810,000
California
See Similar DealsMultiFamily3,651 SF
Sold 09/03/2019
SOLD
Adam Rubin & Andrew Shanfeld Acquire Melrose Place Multifamily For $2.81M From Seller Solica Griffith
929 North Croft Avenue, Los Angeles, CA, USA
See Similar DealsMultiFamily3,651 SF
Sold 09/03/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$769
Total Square Footage:3,651 SF
Transaction Type:Sale
A multifamily property located at 929 N. Croft Avenue in Melrose Place has been sold for $2,810,000. The transaction closed all cash, and the property spans a total of 3,651 square feet, resulting in a price per square foot of $769.65.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,810,000
- Address: 929 N. Croft Avenue
- Market: Melrose Place
The buyers of the property are Adam Rubin and Andrew Shanfeld, while Solica Griffith acted as the seller. The deal was facilitated by Carol Wood Equities.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,983.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,320.83
Annual Debt Service$159,850.00
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