Fred Freeman Buys Multifamily Property In Torrance For $1.3 Million With Cameron Samimi & David Messiah As Buyer's Reps
1533 West 224th Street
$1,300,000
$283/SF
Building Size
4,586 SF
Asset Type
MultiFamily
Closing
Nov 1, 2024
AI
The property asset involved in this transaction is a multifamily unit located at 1533 West 224th Street in Torrance. The sale price of the asset is $1,300,000, and it comprises 6 units. The total square footage is 4,586, resulting in a price per unit of $216,666 and a price per square foot of $283.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Units: 6
- Square Footage: 4,586
- Price Per Unit: $216,666
- Price Per Square Foot: $283
- Buyer: Fred Freeman
- Seller: Young Lee
- Buyer's Representative: Cameron Samimi & David Messiah - Lyon Stahl Investment Real Estate
- Seller's Representative: Taylor Avakian - The Group CRE
The key individuals involved in the transaction include Fred Freeman as the buyer and Young Lee as the seller. The buyer is represented by Cameron Samimi and David Messiah from Lyon Stahl Investment Real Estate, while the seller is represented by Taylor Avakian from The Group CRE.
Players
Torrance MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93