Monat Lee Sells Glendale Multifamily Portfolio For $6.1M Via Greg Alexanian - Alexanian Apartment Advisors
SOLD
$6,075,000
California
See Similar DealsMultiFamily13,528 SF
Sold 09/16/2022
SOLD
Monat Lee Sells Glendale Multifamily Portfolio For $6.1M Via Greg Alexanian - Alexanian Apartment Advisors
1628 Glencoe Way
See Similar DealsMultiFamily13,528 SF
Sold 09/16/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$449
Total Square Footage:13,528 SF
Transaction Type:Sale
The multifamily property located at 1628 Glencoe Way in Glendale has been sold in a closed transaction. The property is part of a 3-property portfolio sale, which was sold off-market to a single buyer. The portfolio includes two additional properties located at 336 W Wilson and 4539 Orin Ave.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $6,075,000
- Units: 15
- Price per Unit: $405,000
- Square Footage: 13,528
- Price per Square Foot: $449
- Market: Glendale
The seller of the property is Monat Lee, and the broker representing the sale is Greg Alexanian from Alexanian Apartment Advisors.
A note from the broker highlights their ability to achieve their clients' investment goals despite volatile market conditions. They encourage interested parties to contact them for maximum representation in their investments.
Contact information for Alexanian Apartment Advisors:
Email: [email protected]
Phone: (818) 239-1206
Twitter: @Alexanianadvisors
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$324,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,583.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,798.60
Annual Debt Service$345,583.19
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