Fred Gortner Acquires Multifamily Property In San Gabriel Valley For $33.6M
1381 N San Gabriel Canyon Rd, Azusa, California 91702, United States
$33,600,000
$346/SF
Building Size
96,904 SF
Asset Type
MultiFamily
Closing
Aug 14, 2022
AI
A multifamily property located at 1381 N. San Gabriel Canyon Rd., 1311 N. Azusa Ave., and 1345 N. San Gabriel Ave. in the San Gabriel Valley has been sold for $33,600,000. The transaction took place on August 15, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,600,000
- Number of Units: 116
- Price per Unit: $289,655
- Square Footage: 96,904
- Price per Square Foot: $346
- Address: 1381 N. San Gabriel Canyon Rd., 1311 N. Azusa Ave., and 1345 N. San Gabriel Ave.
- Market: San Gabriel Valley
The buyer of the property is Fred Gortner, and the seller is Michael Barker. The deal was facilitated by Eric Chen and Joyce Goldstein of CBRE.
Players
Azusa 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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93