Motter Enterprises Inc. Sells Granada Hills Multifamily For $25M With Brokers Janet Neman, Angelica Gotzev, Mark Reynolds & Eric Mandell
SOLD
$25,000,000
+ 1
California
See Similar DealsMultiFamily102,230 SF
Sold 03/09/2020
SOLD
Motter Enterprises Inc. Sells Granada Hills Multifamily For $25M With Brokers Janet Neman, Angelica Gotzev, Mark Reynolds & Eric Mandell
16716 Devonshire Street, Granada Hills, CA, USA
See Similar DealsMultiFamily102,230 SF
Sold 03/09/2020
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$244
Total Square Footage:102,230 SF
Transaction Type:Sale
A multifamily property located at 16700-16716 Devonshire St, 16860-16900 Chatsworth St, and 16930 Blackhawk St in Granada Hills has been sold for a total of $25,000,000. The property consists of 122 units with a total area of 102,230 square feet. The price per square foot for this transaction was $244.55, and the price per unit was $204,918.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Location: 16700-16716 Devonshire St, 16860-16900 Chatsworth St, and 16930 Blackhawk St, Granada Hills
- Total Square Footage: 102,230
- Number of Units: 122
- Price Per Square Foot: $244.55
- Price Per Unit: $204,918
The seller in this off-market sale was Motter Enterprises Inc. Handling the transaction were brokers Janet Neman, Angelica Gotzev, Mark Reynolds, and Eric Mandell.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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