Updated Oct 28, 2024
Deepak Mehta Buys 39-Unit Multifamily Property In San Fernando Valley For $9.1M
18424 Halsted Street, Northridge, California 91325, United States
$9,100,000
$340/SF
Building Size
26,763 SF
Asset Type
MultiFamily
Closing
Jun 28, 2022
About this deal
AI
The multifamily property located at 18424 Halsted Street in San Fernando Valley has been sold in a closed transaction. The property consists of 39 units with a total square footage of 26,763. The sale price for the property was $9,100,000, resulting in a price per unit of $233,333 and a price per square foot of $340.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,100,000
- Address: 18424 Halsted Street
- Market: San Fernando Valley
- Buyer: Deepak Mehta - Westside Habitats
- Seller: Phillip Salet
- Brokers: Daniel Withers & John Boyett - Matthews Real Estate Investment Services
- Units: 39
- Price per Unit: $233,333
- Square Footage: 26,763
- Price per Square Foot: $340
The buyer of the property was Deepak Mehta, represented by Westside Habitats. The seller was Phillip Salet. The brokers involved in the transaction were Daniel Withers and John Boyett from Matthews Real Estate Investment Services.
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
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93