Scott Sieh Acquires Temple City Multifamily Asset From Jay Cheung For $10 Million
SOLD
$10,000,000
California
See Similar DealsMultiFamily26,800 SF
Sold 07/29/2025
SOLD
Scott Sieh Acquires Temple City Multifamily Asset From Jay Cheung For $10 Million
Cloverly Avenue
See Similar DealsMultiFamily26,800 SF
Sold 07/29/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:26,800 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 5931-5945 Cloverly Ave in Temple City. The sale price is $10,000,000, and the asset consists of 34 units. It has a total square footage of 26,800, resulting in a price per unit of $294,117 and a price per square foot of $373.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Units: 34
- Square Feet: 26,800
- Price per Unit: $294,117
- Price per Square Foot: $373
- Buyer: Scott Sieh
- Seller: Jay Cheung
- Broker: Han Widjaja Chen - Growth Investment Group
This transaction involved key individuals, with Scott Sieh acting as the buyer and Jay Cheung as the seller, facilitated by broker Han Widjaja Chen, representing Growth Investment Group in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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