Updated Oct 28, 2024
Jones & Jones Communities Acquires Multifamily Portfolio In San Fernando Valley For $70.5M
17200 Burbank Blvd, Encino, California 91316, United States
$70,500,000
Units
216
Asset Type
MultiFamily
Closing
Aug 2, 2022
About this deal
AI
The transaction involved the sale of a multifamily property located at 17200 Burbank Blvd, 10831 Fruitland Drive, and 5259 Sepulveda Blvd in San Fernando Valley. The property consists of 216 units and was sold for a total price of $70,500,000, resulting in a per unit price of $326,388.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $70,500,000
- Date: 08/03/2022
- Market: San Fernando Valley
- Buyer: Jones & Jones Communities & Other Private Investors
- Seller: Venture Property Management
- Brokers: Adrienne Barr & Mitchell Shapiro - Berkadia
The buyers in this transaction were Jones & Jones Communities and other private investors, while the seller was Venture Property Management. The deal was represented by brokers Adrienne Barr and Mitchell Shapiro of Berkadia.
On the Map
$70,500,000
MultiFamily
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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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93