CBRE Acquires Los Feliz Apartment Complex In $17.6M Deal
SOLD
$17,580,000
California
See Similar DealsOther53,487 SF
Sold 12/27/2018
SOLD
CBRE Acquires Los Feliz Apartment Complex In $17.6M Deal
Los Feliz Palms, 1917 Rodney Drive, Los Angeles, CA, USA
See Similar DealsOther53,487 SF
Sold 12/27/2018
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$328
Total Square Footage:53,487 SF
Transaction Type:Sale
A 54-unit apartment complex located at 1917 Rodney in Los Feliz has been sold for $17,580,000. The transaction took place on December 27, 2018. The property, represented by Priscilla Nee from CBRE, was listed on Instagram by Priscilla Nee.
Summary of transaction details
- Property Type: Apartment Complex
- Transaction Amount: $17,580,000
- Units: 54
- Price Per Unit: $325,555
- Market: Los Feliz
- Broker: Priscilla Nee - CBRE
The 54-unit apartment complex on 1917 Rodney in Los Feliz was successfully sold for $17,580,000 through the representation of Priscilla Nee from CBRE. This transaction marks a significant sale in the Los Feliz market and demonstrates the potential of the apartment complex asset type in this area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$937,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,458.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$83,338.17
Annual Debt Service$1,000,058.03
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