Michael Howard Sells Lake Balboa Multifamily For $10.1M With Marcus & Millichap's Yoni Salem & Jeff Louks
SOLD
$10,100,000
California
See Similar DealsMultiFamily28,928 SF
Sold 06/14/2022
SOLD
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
See Similar DealsMultiFamily28,928 SF
Sold 06/14/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$349
Total Square Footage:28,928 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$538,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,883.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,879.15
Annual Debt Service$574,549.83
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