Fred Wolf Purchases Beverly Hills Multifamily Asset From Jim Schley For $4.875M
SOLD
$4,875,000
California
See Similar DealsMultiFamily11,434 SF
Sold 06/04/2025
SOLD
Fred Wolf Purchases Beverly Hills Multifamily Asset From Jim Schley For $4.875M
9850 West Olympic Boulevard
See Similar DealsMultiFamily11,434 SF
Sold 06/04/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$426
Total Square Footage:11,434 SF
Transaction Type:Sale
A multifamily asset located at 9850-9860 West Olympic Boulevard in Beverly Hills has been sold for $4,875,000. The property consists of 12 units with a total square footage of 11,434, resulting in a price per unit of $406,250 and a price per square foot of $426.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,875,000
- Units: 12
- Square Footage: 11,434
- Price Per Unit: $406,250
- Price Per Square Foot: $426
- Buyer: Fred Wolf
- Seller: Jim Schley
- Broker: Jordan Asheghian - Lyon Stahl Investment Real Estate
- Date of Sale: 06/04/2025
The transaction was noted as a smooth process facilitated by a 1031 Exchange Buyer, with a 60-day escrow period. This sale marks the first time the property has changed hands in over 50 years, highlighting the significance of the event in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$259,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,319.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,109.99
Annual Debt Service$277,319.85
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