Landmark Properties Acquires Panorama City Multifamily For $10.1M

A multifamily property located at 14664 Roscoe Blvd in Panorama City has been sold in a recent transaction. The property, with a total square footage of 32,239, consists of 60 units. The sale was finalized on 12/23/2019 with a sale price of $10,100,000. This equates to a price per square foot of $313.29 and a price per unit of $168,333. The property's capitalization rate is 4.15% and its gross rent multiplier is 15.38.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $10,100,000
• Market: Panorama City
• Address: 14664 Roscoe Blvd
• Square Footage: 32,239
• Units: 60
• Price per Square Foot: $313.29
• Price per Unit: $168,333
• Capitalization Rate: 4.15%
• Gross Rent Multiplier: 15.38

The buyer of the property is Landmark Properties, while Michael Sherry is the seller. The transaction was facilitated by brokers Reza Ghobadi and Jared Papazian, who represented their agency, Team Ghobadi.