Marcus & Millichap Sells Sherman Oaks Multifamily For $9.1M With Buyer's Rep Rick E. Raymundo & Greg Marderian
SOLD
$9,100,000
California
See Similar DealsMultiFamily27,027 SF
Sold 02/14/2020
SOLD
Marcus & Millichap Sells Sherman Oaks Multifamily For $9.1M With Buyer's Rep Rick E. Raymundo & Greg Marderian
15323 Weddington Street, Sherman Oaks, CA 91411, USA
See Similar DealsMultiFamily27,027 SF
Sold 02/14/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$336
Total Square Footage:27,027 SF
Transaction Type:Sale
A multifamily property located at 15323 Weddington Street in Sherman Oaks has been sold for a price of $9,100,000. The property spans a total square footage of 27,027, with each square foot valued at $336.70. This multifamily asset consists of 20 units, with each unit priced at $455,000. The capitalization rate for this transaction stands at 4.48%, while the gross rent multiplier is 14.77.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,100,000
- Address: 15323 Weddington Street
- Market: Sherman Oaks
The sale of this property was facilitated by two brokers. Rick E. Raymundo from Marcus & Millichap and Greg Marderian from AOA Commercial Brokerage represented the parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$485,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,330.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,138.64
Annual Debt Service$517,663.71
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