Neema Ahadian & Leo Laterza Acquire Multifamily Portfolio In Wilmington For $8.68M
1147 Broad Avenue, Wilmington, CA, USA
$8,680,000
$249/SF
Building Size
34,862 SF
Asset Type
MultiFamily
Closing
Dec 22, 2019
AI
The Wilmington Portfolio in Wilmington, consisting of three properties located at 1147 Broad Avenue, 822 North Marine Avenue, and 920 North Avalon Place, has been sold. The multifamily asset, represented by Neema Ahadian and Leo Laterza from The Neema Group, was sold on 12/23/2019 for a total price of $8,680,000. The property encompasses a total of 34,862 square feet, with a price per square foot of $248.98. It features 62 units, with an average price per unit of $140,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,680,000
- Address: 1147 Broad Avenue, 822 North Marine Avenue, 920 North Avalon Place, Wilmington
- Market: Wilmington
- Represented by: Neema Ahadian & Leo Laterza from The Neema Group
- Square Footage: 34,862
- Price per Square Foot: $248.98
- Number of Units: 62
- Price per Unit: $140,000
Neema Ahadian and Leo Laterza from The Neema Group were the brokers representing the buyers and sellers in this transaction.
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
1.83%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93