Ronald Mayer Acquires Multifamily Property In Sylmar For $7.55M

A multifamily property located at 13922 Sayre St. in Sylmar has been sold for a total price of $7,550,000. The property consists of 31 units, with an average price per unit of $243,548 and a total square footage of 25,442. The price per square foot is $296, and the property has a gross rent multiplier (GRM) of 14.51x. The capitalization rate (CAP) is 3.76%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,550,000
• Address: 13922 Sayre St.
• Market: Sylmar
• Units: 31
• Price per Unit: $243,548
• Square Footage: 25,442
• Price per Square Foot: $296
• GRM: 14.51x
• CAP: 3.76%

The buyer in the transaction is Ronald Mayer, while the seller is Steven Eglash. The brokers involved in the deal are Jordan Epstein, Filip Niculete, and Glen Scher from the LAAA Team at Marcus & Millichap. It is worth noting that both the buyer and the seller are repeat clients of the LAAA Team.

The seller, Steven Eglash, is exchanging into out-of-state apartments. This transaction serves as a significant investment opportunity, with a sale price of $7,550,000 and a relatively low CAP rate of 3.76%. The property's price per unit is approximately $244,000, and the price per square foot is $297.