Abrahamian Investments Acquires Multifamily Property On 1409 W Victory Blvd In Burbank For $1.48M

A multifamily property located at 1409 W Victory Blvd. in Burbank has been sold in a recent transaction. The property consists of 4 units with a total square footage of 2,470. The asking price for the property was $1,400,000, and it was eventually sold for $1,480,000, indicating a sales price per unit (PPU) of $370,000. The price per square foot (PPSF) for the property is $599. The Gross Rent Multiplier (GRM) for the property is 18.68x, and the Capitalization Rate (CAP) is 3.75%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,480,000
• Units: 4
• Square Footage: 2,470
• Asking Price: $1,400,000
• Price per Unit (PPU): $370,000
• Price per Square Foot (PPSF): $599
• Gross Rent Multiplier (GRM): 18.68x
• Capitalization Rate (CAP): 3.75%

The buyer in this transaction is Abrahamian Investments, represented by Haroutun Abrahamian. The seller of the property is Janice Champlin. Andy C. Kawatra from Marcus & Millichap acted as the buyer's representative in this deal.