Fred Freeman Buys Multifamily Property In Torrance For $1.3 Million With Cameron Samimi & David Messiah As Buyer's Reps
SOLD
$1,300,000
California
See Similar DealsMultiFamily4,586 SF
Sold 11/01/2024
SOLD
Fred Freeman Buys Multifamily Property In Torrance For $1.3 Million With Cameron Samimi & David Messiah As Buyer's Reps
1533 West 224th Street
See Similar DealsMultiFamily4,586 SF
Sold 11/01/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$283
Total Square Footage:4,586 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$69,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96
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