D.J. Seeley Purchases Multifamily Property From Joel Davidson For $2.6 Million In Los Angeles
438 East 28th Street
$2,600,000
$392/SF
Building Size
6,623 SF
Asset Type
MultiFamily
Closing
Jul 31, 2025
AI
The property asset involved in this transaction is located at 438 East 28th Street, Los Angeles. This multifamily property consists of 4 units, with a total square footage of 6,623. The sale price for the property was $2,600,000, resulting in a price per unit of $650,000 and a price per square foot of $392.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Address: 438 East 28th Street
- Market: Los Angeles
- Units: 4
- Square Footage: 6,623
- Price Per Unit: $650,000
- Price Per Square Foot: $392
- Buyer: D.J. Seeley
- Seller: Joel Davidson
- Buyer's Representative: Jon Sodeif - Real Estate Source Inc.
- Seller's Representative: Barbara Isabel - Keller Williams Realty
The key individuals involved in this transaction include the buyer, D.J. Seeley, and the seller, Joel Davidson, each representing their respective interests in the deal. The buyer was represented by Jon Sodeif from Real Estate Source Inc., while the seller was represented by Barbara Isabel from Keller Williams Realty.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93