Mark Markarian Acquires Multifamily Building In Glendale For $2.2M
SOLD
$2,175,000
California
See Similar DealsMultiFamily5,081 SF
Sold 12/13/2019
SOLD
Mark Markarian Acquires Multifamily Building In Glendale For $2.2M
1415 Stanley Avenue, Glendale, CA, USA
See Similar DealsMultiFamily5,081 SF
Sold 12/13/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$428
Total Square Footage:5,081 SF
Transaction Type:Sale
Located at 1415 Stanley Ave in Glendale, this multifamily property was recently sold on December 13, 2019. The sale was facilitated by Andy Kawatra and Sevak Keshishian of Gettinswiggywitit, who represented both the buyer and the seller. The property consists of 7 units spread across 5,081 square feet, offering a spacious and attractive living space for its residents.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $2,175,000
- Price per Square Foot: $428.07
- Number of Units: 7
- Price per Unit: $310,714
Mark Markarian acquired this property, while MJV Properties LLC acted as the seller. Both parties were represented by Andy Kawatra and Sevak Keshishian, showcasing their expertise in negotiating successful property deals. This transaction highlights the strong demand for multifamily properties in Glendale's real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$115,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,727.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,310.61
Annual Debt Service$123,727.32
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