LA Apartments Acquires Multifamily Property In Tarzana For $9M
SOLD
$9,000,000
California
See Similar DealsMultiFamily27,262 SF
Sold 03/28/2023
SOLD
LA Apartments Acquires Multifamily Property In Tarzana For $9M
18414 Collins Street
See Similar DealsMultiFamily27,262 SF
Sold 03/28/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$330
Total Square Footage:27,262 SF
Transaction Type:Sale
The multifamily property located at 18414 Collins Street in Tarzana has been sold in a recent transaction. The property consists of 45 units with a total area of 27,262 square feet. The sale price amounted to $9,000,000, resulting in a per unit price of approximately $200,000. The price per square foot for the property is approximately $330.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Address: 18414 Collins Street, Tarzana
- Market: Tarzana
- Buyer: LA Apartments - Avi Shlanger
- Seller: Empire USA - Steven Hartunian
- Brokers: Reza Ghobadi & Tony Sameyah - Colliers International
The buyer in this transaction was Avi Shlanger, representing LA Apartments. On the other hand, the seller was Steven Hartunian from Empire USA. The deal was facilitated by brokers Reza Ghobadi and Tony Sameyah from Colliers International.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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