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1324 East Wilson Avenue, Gl...

George Shrinian Acquires Multifamily Property In Glendale, CA
SOLDMultiFamily

George Shrinian Acquires Multifamily Property In Glendale, CA

1324 East Wilson Avenue, Glendale, California 91206, United States

$3,450,000

$521/SF

Building Size

6,616 SF

Asset Type

MultiFamily

Closing

Oct 9, 2022

AI

The multifamily property located at 1324 E Wilson Ave in Glendale, CA has been sold for a price of $3,450,000. The sale took place on 10/10/2022. The property consists of 7 units with a price per unit (PPU) of $492,857. It spans a total area of 6,616 square feet, resulting in a price per square foot (PPSF) of $521.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,450,000
  • Address: 1324 E Wilson Ave, Glendale, CA
  • Market: Glendale, CA

The buyer of the property is George Shrinian, while Monat Lee acted as the seller. The brokers involved in the deal are Greg Alexanian from Alexanian Apartment Advisors and Eduard Khachatryan from Global Equity Partners.

Note from broker: Philippians 4:19

With a track record of over $1 billion in transacted Glendale area multifamily properties, the Alexanians have earned a reputation for their unmatched expertise in representing sellers.

Players

Greg Alexanian

Alexanian Apartment Advisors

Broker

$269.6M

vol

53 deals

Broker

Monat Lee

Seller

$20.5M

vol

6 deals

Seller

Glendale MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.60%

Cash-on-Cash

-1.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93