Positive Investments Acquires Multifamily Property In Sylmar For $7.24M

The property involved in this transaction is a multifamily asset located at 15500 Foothill Blvd. in Sylmar. The sale took place on 06/25/2021. The property consists of 35 units with a total square footage of 18,653. The asking price for this property was $7,200,000, and it was sold for $7,240,000, resulting in a price per unit (PPU) of $207,000. The price per square foot (PPSF) is $389, and the capitalization rate (CAP) is 4.5%.

Summary of Transation Details:

• Property Type: Multifamily
• Transaction Amount: $7,240,000
• Address: 15500 Foothill Blvd., Sylmar
• Market: Sylmar
• Units: 35
• Square Footage: 18,653
• Price per Unit (PPU): $207,000
• Price per Square Foot (PPSF): $389
• Capitalization Rate (CAP): 4.5%

The buyer in this transaction is Positive Investments. The brokers involved in the deal are Alex Dorfman and Brett Sanson from Marcus & Millichap.