Virtu Investments Acquires Warner Center Multifamily For $70.5M
SOLD
$70,500,000
California
See Similar DealsMultiFamily171,288 SF
Sold 11/02/2019
SOLD
Virtu Investments Acquires Warner Center Multifamily For $70.5M
21425 West Vanowen Street, Warner Center, CA, USA
See Similar DealsMultiFamily171,288 SF
Sold 11/02/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$411
Total Square Footage:171,288 SF
Transaction Type:Sale
A multifamily property located at 21425 W. Vanowen Street in Warner Center was recently sold for a total price of $70,500,000. The property spans a total area of 171,288 square feet, with a price per square foot of $411. It consists of 174 units, with an average price per unit of $408,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $70,500,000
- Address: 21425 W. Vanowen Street
- Market: Warner Center
- Size: 171,288 square feet
- Price per square foot: $411
- Number of Units: 174
- Price per unit: $408,000
The seller of the property was Cityview, represented by Sean Burton. The buyer, Virtu Investments, was represented by Michael Green and Scott McWhorter. The transaction was facilitated by Joseph Smolen and Mark Peterson of Eastdil Secured.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,760,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$250,471.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$334,205.97
Annual Debt Service$4,010,471.61
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