14740 Erwin LLC Acquires Multifamily Property In Van Nuys For $5.59M
SOLD
$5,590,000
California
See Similar DealsMultiFamily16,747 SF
Sold 11/27/2019
SOLD
14740 Erwin LLC Acquires Multifamily Property In Van Nuys For $5.59M
14740 Erwin Street, Van Nuys, CA, USA
See Similar DealsMultiFamily16,747 SF
Sold 11/27/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$333
Total Square Footage:16,747 SF
Transaction Type:Sale
The multifamily property located at 14740 Erwin St in Van Nuys has been sold for $5,590,000. The property consists of 18 townhomes, each measuring approximately 900 square feet. It is a non-rent controlled property built in 2007.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,590,000
- Address: 14740 Erwin St, Van Nuys
- Market: Van Nuys
- Total Square Footage: 16,747
- Price per Square Foot: $333.79
- Number of Units: 18
- Price per Unit: $310,555
- Buyer: 14740 Erwin LLC
- Seller: Joe Samuel
- Brokers: Warren Berzack, Slavic Zlatkin - Lee & Associates
The property was sold on November 27, 2019. Warren Berzack and Slavic Zlatkin from Lee & Associates represented the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,133.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,860.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,499.45
Annual Debt Service$317,993.42
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