Marcus & Millichap Sells Multifamily Asset At 1715 North 16th Avenue In Hollywood For $8.14M
1715 North 16th Avenue
$8,140,000
$285/SF
Building Size
28,500 SF
Asset Type
MultiFamily
Closing
Mar 28, 2025
AI
The property asset involved in the transaction is a multifamily unit located at 1715 North 16th Avenue in the Hollywood market. The sale was completed for a price of $8,140,000, encompassing a total square footage of 28,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,140,000
- Square Footage: 28,500
- Address: 1715 North 16th Avenue
- Market: Hollywood
- Brokers: Joseph Thomas, Alec Demetriou & Adam Marcuvitz - Marcus & Millichap
Key individuals involved in the deal include brokers Joseph Thomas, Alec Demetriou, and Adam Marcuvitz, all representing the transaction through Marcus & Millichap, a firm specializing in closed property transactions.
Players
Hollywood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93