Updated Dec 19, 2023
Marcus & Millichap Sells Multifamily Development On W Riverside Dr In Sherman Oaks For $2.05M
14006 Riverside Drive, Sherman Oaks, CA 91423, USA
$2,050,000
Units
12
Asset Type
Development Site
Closing
Jan 15, 2019
About this deal
AI
A multifamily development property located at 14419-14427 W Riverside Dr., Sherman Oaks, CA 91423, has been sold for a price of $2,050,000. The property consists of 12 units and is situated in the Sherman Oaks market. The price per square foot (PPSF) for this transaction is $157.71.
Summary of transaction details
- Property Type: Multifamily Development
- Transaction Amount: $2,050,000
- PPSF: $157.71
- Units: 12
The sale of this multifamily development property was facilitated by brokers Filip Niculete and Glen Scher from Marcus & Millichap. Additional representatives involved in the deal were Lily Galadzhyan and Haik Bokhchalian from JohnHartRE.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93