Updated Oct 29, 2024
LA Platinum Properties LLC Acquires Distressed Apartment Building In Los Angeles For $1.05M
4026 Morgan Avenue, Los Angeles, CA 90011, USA
$1,055,000
$232/SF
Building Size
4,547 SF
Asset Type
Other
Closing
Jul 9, 2019
About this deal
AI
An apartment building located at 4026 Morgan Ave has been sold for a price of $1,055,000. The property spans 4,547 square feet and has a price per square foot (PPSF) of $232. It consists of 6 units, resulting in a price per unit (PPU) of $175,833. The gross rent multiplier (GRM) for the property is 12.1. This transaction took place on July 10, 2019.
Summary of transaction details
- Property Type: Apartment building
- Transaction Amount: $1,055,000
- Address: 4026 Morgan Ave
- Square Footage: 4,547
- Price per Square Foot (PPSF): $232
- Number of Units: 6
- Price per Unit (PPU): $175,833
- Gross Rent Multiplier (GRM): 12.1
- Date of Transaction: July 10, 2019
The buyer of this property is LA Platinum Properties LLC, and the broker involved in the deal is Ramin Gheitanchi.
It is important to note that this was a distressed sale.
On the Map
$1,055,000
$232/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.04%
Cash-on-Cash
-4.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93