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

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.