Updated Jun 1, 2026
Spring Property Group Acquires Multifamily Asset In Los Angeles From Neveo Mosser For $6.7M
500 South Westmoreland Avenue
$6,700,000
$145/SF
Building Size
46,144 SF
Asset Type
MultiFamily
Closing
May 20, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily residential building located at 500 South Westmoreland Avenue in Los Angeles. The property was sold for $6,700,000, featuring 54 units which results in a price per unit of $124,074. The total square footage of the building is 46,144, with a price per square foot of $145.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,700,000
- Buyer: Spring Property Group
- Seller: Neveo Mosser
- Broker: Luc Whitlock - JLL
- Units: 54
- Square Footage: 46,144
- Price Per Unit: $124,074
- Price Per Square Foot: $145
In this transaction, Spring Property Group acquired the property from seller Neveo Mosser, with the brokerage services provided by Luc Whitlock from JLL, representing the buyer in this deal.
On the Map
$6,700,000
$145/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93