Richard Kaufman Acquires Multifamily Property In Valley Glen For $5.6M

The multifamily property located at 13210 Victory Boulevard in Valley Glen has been sold in a recent transaction. The property consists of 30 units and has a total square footage of 16,264. The sale price for this transaction was $5,635,000, resulting in an average price per unit of $187,833. The price per square foot was $346, with a capitalization rate of 3.80%. The property was built in 1960 and has undergone renovations.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,635,000
• Units: 30
• Price per Unit: $187,833
• Square Footage: 16,264
• Price per Square Foot: $346
• Capitalization Rate: 3.80%

The buyer in this transaction was Richard Kaufman, while the seller was Mark Litman. The deal was facilitated by the broker representatives Filip Niculete, Glen Scher, Jeff Louks, and Brett Sanson from Marcus & Millichap.

It is worth noting that the property was sold at the list price just one day after being listed. The buyer's offer was non-contingent, demonstrating their strong interest in the property. The capitalization rate for this transaction was 3.80%, indicating a favorable return on investment. The price per square foot was $346, and the average price per unit was $187,833.