Updated Oct 28, 2024
Jones & Jones Acquires San Fernando Valley Multifamily For $25.05M
11915 Kling Street, Valley Village, CA, USA
$25,050,000
$310/SF
Building Size
80,602 SF
Asset Type
MultiFamily
Closing
Jul 20, 2020
About this deal
AI
The multifamily property located at 11915, 11935, and 11940 Kling St. in San Fernando Valley has been sold for a total price of $25,050,000. The property consists of 80 units, spanning a total area of 80,602 square feet. The sale price per unit is approximately $313,125, while the price per square foot is $310. The property's capitalization rate (CAP) is 3.52%, and the gross rent multiplier (GRM) stands at 16.10x.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,050,000
- Units: 80
- Price per Unit (PPU): $313,125
- Square Footage (SF): 80,602
- Price per Square Foot (PPSF): $310
- CAP: 3.52%
- GRM: 16.10x
The buyer for this transaction is Jones & Jones, while the seller is Abady Holdings. Marcus & Millichap represented both parties in the deal. The buyer's representatives were Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap. On the other hand, Tony Azzi and Jordan Asheghian, also from Marcus & Millichap, represented the seller.
Players
Valley Village MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Tony Azzi to view all their deals.
Browse California multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93