Michael Saei Acquires Student Housing In North Westwood Village For $8.83M
SOLD
$8,300,000
California
See Similar DealsStudent Housing12,423 SF
Sold 07/13/2022
SOLD
Michael Saei Acquires Student Housing In North Westwood Village For $8.83M
542 Glenrock Avenue
See Similar DealsStudent Housing12,423 SF
Sold 07/13/2022
Summary
CALIFORNIA
Asset Type:Student Housing
Price Per Square Foot:$668
Total Square Footage:12,423 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$442,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,488.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,346.23
Annual Debt Service$472,154.81
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