Rick Ramirez & Ellen Kim Sell Multifamily Property On 1317 E. Wilson Ave. In Glendale To Michael & Julia Blum
SOLD
$2,400,000
California
See Similar DealsMultiFamily5,297 SF
Sold 06/08/2020
SOLD
Rick Ramirez & Ellen Kim Sell Multifamily Property On 1317 E. Wilson Ave. In Glendale To Michael & Julia Blum
1317 East Wilson Avenue, Glendale, CA 91206
See Similar DealsMultiFamily5,297 SF
Sold 06/08/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$453
Total Square Footage:5,297 SF
Transaction Type:Sale
A multifamily property located at 1317 E. Wilson Ave. in Glendale recently sold for $2,400,000. The property consists of 8 units with a total square footage of 5,297. The price per unit was $300,000, and the price per square foot was $453. The Gross Rent Multiplier (GRM) for the property was 14.62, and the capitalization rate (CAP) was 4.58%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,400,000
- Address: 1317 E. Wilson Ave.
- Market: Glendale
- Units: 8
- Price per Unit: $300,000
- Square Footage: 5,297
- Price per Square Foot: $453
- Gross Rent Multiplier (GRM): 14.62
- Capitalization Rate (CAP): 4.58%
The sellers, Michael & Julia Blum, were represented by Rick Ramirez from Robo_Rick. The buyer's representative in the deal was Ellen Kim.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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