Jerry Walsh Acquires 115-Unit Multifamily Property In Koreatown For $20M
SOLD
$20,000,000
California
See Similar DealsMultiFamily
Sold
SOLD
Jerry Walsh Acquires 115-Unit Multifamily Property In Koreatown For $20M
974 South Gramercy Place, Los Angeles, CA 90019
See Similar DealsMultiFamily
Sold
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 974 S. Gramercy Pl. & 960 S. Oxford St. in Koreatown has been sold for a price of $20,000,000. The transaction took place on June 15, 2021. The property consists of 115 units, resulting in a price per unit of $173,913.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 974 S. Gramercy Pl. & 960 S. Oxford St.
- Market: Koreatown
- Units: 115
- Price Per Unit: $173,913
Jerry Walsh has acquired the property from Safco Capital, represented by John Safi. Andrew Gharibian, who represented both the buyer and the seller, facilitated the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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