Kevin Hart Acquires Burbank Multifamily For $3.185M From Seller Diana Brand

An multifamily property located at 123 N Maple St in Burbank has been sold. The transaction took place on December 14, 2020. The property consists of 9 units with a total square footage of 6,518. The asking price for the property was $3,200,000 and it was sold for $3,185,000. This translates to a price per unit of $353,889 and a price per square foot of $489. The property has a capitalization rate of 4.31% and a gross rent multiplier of 15.37x.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,185,000
• Address: 123 N Maple St
• Market: Burbank
• Units: 9
• Square Footage: 6,518
• Price per Unit: $353,889
• Price per Square Foot: $489
• Capitalization Rate: 4.31%
• Gross Rent Multiplier: 15.37x

The buyer of the property is Kevin Hart, and the seller is Diana Brand. The transaction was facilitated by brokers Morgan McMullin from @MorgraMMcmullin and Chris Chasin from @ChrisChasin.