John N. Jaidar Acquires 10-Unit Multifamily In Studio City For $5.72M

A multifamily property located at 11408 Sarah Street in Studio City has been sold for a price of $5,726,000. The transaction took place on February 18, 2022. The property consists of 10 units with a total square footage of 11,661. The sale price per unit was $572,600, and the price per square foot was $491. The property has a Gross Rent Multiplier (GRM) of 17.46x and a Capitalization Rate (CAP) of 3.80%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,726,000
• Address: 11408 Sarah Street, Studio City
• Market: Studio City
• Seller: Mark Golastani
• Buyer: John N. Jaidar
• Buyer's Representative: Robert Hunter - Douglas Elliman
• Seller's Representatives: Filip Niculete & Glen Scher (LAAA Team) - Marcus & Millichap

The buyer, John N. Jaidar, was represented by Robert Hunter from Douglas Elliman, while the seller, Mark Golastani, was represented by Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap. The property, which was built in 2019, was sold off-market to a 1031 Exchange Buyer. The transaction opened escrow non-contingent and was finalized at a sale price of $5,726,000.

Additional details include a 3.80% CAP rate and a 17.46 GRM. The sale price per unit was $572,600, and the price per square foot was $491.04.