Updated Sep 5, 2024
Michael Saei Acquires Student Housing In North Westwood Village For $8.83M
542 Glenrock Avenue
$8,300,000
$668/SF
Building Size
12,423 SF
Asset Type
Student Housing
Closing
Jul 13, 2022
About this deal
AI
The student housing property located at 542 Glenrock Ave. in North Westwood Village has been sold in a recent transaction. The property spans 12,423 square feet and was sold for a price of $8,830,000, equating to a price per square foot of $710.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $8,830,000
- Address: 542 Glenrock Ave.
- Market: North Westwood Village
Michael Saei has purchased the student housing property from James Mulne and Lisa Mulne. The deal was facilitated by Oron Maher from Maher Commercial Realty, who represented the buyer as the broker in the transaction.
Players
Los Angeles Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93