Updated Oct 25, 2024
Marcus & Millichap Secures $2M Loan For Burbank Multifamily Property
606 East Santa Anita Avenue, Burbank, CA 91501, USA
$2,000,000
$190/SF
Building Size
10,480 SF
Asset Type
MultiFamily
Closing
Mar 30, 2020
About this deal
AI
A multifamily property located at 606 E Santa Anita Ave in Burbank was involved in a recent closed transaction. The property spans 10,480 square feet and consists of 9 units. The transaction took place on 03/31/2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Market: Burbank
- Lender: Marcus & Millichap
- Broker: Sharone Sabar
- Loan Terms: 3.25% Leverage - 63% Term - 10 years
The loan for this transaction was provided by Marcus & Millichap. The loan amount was $2,000,000 and the terms of the loan included a 3.25% interest rate, 63% leverage, and a term of 10 years. Sharone Sabar, from Marcus & Millichap, represented the buyer in this transaction.
Players
Burbank MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93