Located in Burbank, the multifamily property at 1301-1305 N. Hollywood Way recently changed hands in a closed transaction. The sale, represented by Greg Alexanian and Robert Kurdyan, reached a price of $15,500,000. The property consists of 35 units, resulting in a price per unit of $442,857. With a total square footage of 34,290, the price per square foot was calculated at $452.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,500,000
• Units: 35
• Price per Unit: $442,857
• Square Footage: 34,290
• Price per Square Foot: $452

This sale marks the highest multifamily sale price in Burbank over the past 11 months. Additionally, it boasts the largest number of units sold in the same time frame. Notably, this transaction involved the newest building to be traded in Burbank within the last 5 years. The successful deal was accompanied by a full price offer and a guarantee of execution. It is worth mentioning that Alexanian Apartment Advisors, the brokerage firm represented both the seller and the buyer in this transaction. With a strong track record, the firm has facilitated over $1 billion in multifamily transactions.