Updated Sep 9, 2024
Northridge Multifamily Sells For $7M With Paul Darrow, Kevin Green & Rick Raymundo
17931 Devonshire St, Northridge, CA, USA
$7,000,000
$311/SF
Building Size
22,466 SF
Asset Type
MultiFamily
Closing
Jul 16, 2019
About this deal
AI
An multifamily property located at 17931 Devonshire St in Northridge was recently sold for $7,000,000. The property has a total square footage of 22,466, resulting in a price per square foot of $311.58. It consists of 28 units, with an average price per unit of $250,000. The Gross Rent Multiplier (GRM) for the property is 12.85, and the capitalization rate (CAP) is 5.18%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Address: 17931 Devonshire St
- Market: Northridge
- Square Footage: 22,466
- Price per Square Foot: $311.58
- Number of Units: 28
- Price per Unit: $250,000
- Gross Rent Multiplier (GRM): 12.85
- Capitalization Rate (CAP): 5.18%
The sale was facilitated by brokers Paul Darrow, Kevin Green, and Rick Raymundo from LACMultifamily.
Players
Northridge 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93