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14687 Rayen Street

Updated Dec 4, 2024

Luis Gonzalez Of Vista Sotheby's International Realty Represents Buyer In $4.85M Panorama City Multifamily Sale
SOLDMultiFamily

Luis Gonzalez Of Vista Sotheby's International Realty Represents Buyer In $4.85M Panorama City Multifamily Sale

14687 Rayen Street

$4,850,000

$232/SF

Building Size

20,829 SF

Asset Type

MultiFamily

Closing

Oct 15, 2024

About this deal

AI

14687 Rayen Street is a multifamily property located in Panorama City, featuring a total of 20,829 square feet. The property has been sold for $4,850,000, comprising 20 units, including 18 two-bedroom units and 2 three-bedroom units. The price per unit is $242,500, and the price per square foot is $233. It offers a 6.31% cap rate and is strategically located near significant future developments.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,850,000
  • Address: 14687 Rayen Street
  • Market: Panorama City
  • Units: 20
  • Price Per Unit: $242,500
  • Total Square Footage: 20,829
  • Price Per Square Foot: $233
  • Cap Rate: 6.31%
  • Buyer's Representative: Luis Gonzalez - Vista Sotheby's International Realty
  • Seller's Representative: Kelly Morgan - KW Advisors

In this transaction, Luis Gonzalez represented the buyer, while Kelly Morgan represented the seller. The deal is particularly noteworthy due to its proximity to upcoming projects like the Panorama City Center and the future Van Nuys Light Rail, suggesting potential for increased rental prices in the area.

On the Map

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$4,850,000

$232/SF

MultiFamily

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Players

Kelly Morgan

KW Commercial

Broker

$15.3M

vol

2 deals

Broker
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Panorama City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $232 per square foot on a published $4.9M for 20,829 square feet (2024).

Visit Kelly Morgan to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.27%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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