M&A Acquires Student Housing In Westwood Village For $6.85M
535 Glenrock Avenue, Los Angeles, CA, USA
$6,850,000
$1,187/SF
Building Size
5,771 SF
Asset Type
Other
Closing
Sep 24, 2021
AI
The property involved in this transaction is located at 535 Glenrock Ave in Westwood Village. It is a student housing asset consisting of four units and a total of 26 bedrooms. The property is conveniently situated within walking distance to UCLA, making it an ideal choice for student housing. The sale of this property was conducted off-market.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $6,850,000
- Address: 535 Glenrock Ave
- Market: Westwood Village
- Buyer: M&A - Adam Stein
- Buyer's Representative: David Kaplan
- Seller's Representative: Oron Maher - Maher Commercial Realty
- Square Footage: 5,771 SF
- Price Per Square Foot: $1,186
Adam Stein, representing M&A, acted as the buyer in this transaction. The buyer's representative was David Kaplan. On the other side, Oron Maher, from Maher Commercial Realty, served as the seller's representative. This deal demonstrates the demand for student housing in the area and highlights the involvement of key individuals and companies in the real estate market.
Players
Los Angeles Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.32%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93