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14224 Erwin Street, Van Nuy...

Updated Sep 5, 2024

Johnny Caal Acquires 10-Unit Multifamily Property In Van Nuys For $1.9M
SOLDMultiFamily

Johnny Caal Acquires 10-Unit Multifamily Property In Van Nuys For $1.9M

14224 Erwin Street, Van Nuys, CA 91401

$1,895,000

$309/SF

Building Size

6,127 SF

Asset Type

MultiFamily

Closing

Aug 13, 2021

About this deal

AI

The multifamily property located at 14224 Erwin Street in Van Nuys has been sold. The property consists of 10 units with a total square footage of 6,127. The sale price for the property was $1,895,000, resulting in a price per unit of $189,500. The price per square foot was $309, and the Gross Rent Multiplier (GRM) for the property was 13.91x. The capitalization rate (CAP) for the property was 4.57%. This transaction took place on August 13, 2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,895,000
  • Address: 14224 Erwin Street, Van Nuys
  • Market: Van Nuys
  • Units: 10
  • Price per Unit: $189,500
  • Square Footage: 6,127
  • Price per Square Foot: $309
  • Gross Rent Multiplier (GRM): 13.91x
  • Capitalization Rate (CAP): 4.57%

Johnny Caal was the buyer in this transaction, with Akash Saini representing him as his buyer's representative. The seller of the property was Rao R. Yalamanchili. Akash Saini acted as the buyer's representative in the deal.

On the Map

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$1,895,000

$309/SF

MultiFamily

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Players

Akash Saini

Keller Williams Realty

Broker

$86.2M

vol

27 deals

Broker

Johnny Caal

Buyer

$7.7M

vol

4 deals

Buyer
Rao Yalamanchili

Rao Yalamanchili

Positive Investments

Seller

$152.2M

vol

9 deals

Seller
Bilt advertisement

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $309 per square foot on a published $1.9M for 6,127 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.37%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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