Updated Sep 9, 2024
Prabash Paul Acquires Multifamily Property On North Hollywood Way In Burbank For $1.95M
1501 North Hollywood Way, Burbank, CA 91505
$1,950,000
$421/SF
Building Size
4,624 SF
Asset Type
MultiFamily
Closing
Dec 20, 2021
About this deal
AI
The multifamily property located at 1501 North Hollywood Way in Burbank has been sold for a total price of $1,950,000. The transaction took place on 12/20/2021. The property consists of 6 units with a total square footage of 4,624. The price per unit (PPU) is $325,000, and the price per square foot (PPSF) is $421. The property has a cap rate of 3.94 and a gross rent multiplier (GRM) of 16.14.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,950,000
- Address: 1501 North Hollywood Way, Burbank
- Market: Burbank
- Units: 6
- PPU: $325,000
- Square Footage: 4,624
- PPSF: $421
- Cap Rate: 3.94
- GRM: 16.14
The buyer of the property is Prabash Paul, while the seller is Harris Schiller. The deal was facilitated by Michael Monempour and David Saghian of Kidder Mathews, acting as brokers.
Players
Burbank MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93