Michael Howard Sells Lake Balboa Multifamily For $10.1M With Marcus & Millichap's Yoni Salem & Jeff Louks
15928 Vanowen Street, Van Nuys, California 91406, United States
$10,100,000
$349/SF
Building Size
28,928 SF
Asset Type
MultiFamily
Closing
Jun 13, 2022
AI
The multifamily property located at 15928 Vanowen St. in Lake Balboa has been sold for $10,100,000. This transaction took place on 06/14/2022 and involved a total of 31 units. The price per unit was $325,806, and the property spans over 28,928 square feet, resulting in a price per square foot of $349.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $10,100,000
- Market: Lake Balboa
- Address: 15928 Vanowen St.
The seller of the property was Michael Howard. The sale was facilitated by Yoni Salem and Jeff Louks from Marcus & Millichap. They acted as brokers representing the seller in the transaction.
Players
Los Angeles 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
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93