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

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.