@SlatePropertyGroup Acquires Multifamily In Hollywood For $39M With Pacific Partners Real Estate
SOLD
$39,000,000
California
See Similar DealsSingle Family Residence
Sold 01/10/2019
SOLD
@SlatePropertyGroup Acquires Multifamily In Hollywood For $39M With Pacific Partners Real Estate
Hollywood, Los Angeles, CA, USA
See Similar DealsSingle Family Residence
Sold 01/10/2019
Summary
CALIFORNIA
Asset Type:Single Family Residence
Transaction Type:Sale
A multifamily property located at 1245 Vine Street and 1665 Sycamore Avenue in Hollywood has been sold for $39,000,000. The buyer of the property is Slate Property Group. The transaction took place on January 10, 2019. The property consists of 157 units, with a price per unit of $248,407.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Address: 1245 Vine Street & 1665 Sycamore Avenue
- Market: Hollywood
Zac Freehling, Jason Shenitzer, and Michael Aspinwall from Pacific Partners Real Estate represented Slate Property Group in the deal.
Players
BROKERAGE
BROKERAGE
BUYER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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