Updated Dec 21, 2023
Rick Raymundo Acquires Burbank Multifamily For $8M
303, East Alameda Avenue, Burbank, CA 91502, USA
$8,000,000
$455/SF
Building Size
17,572 SF
Asset Type
MultiFamily
Closing
Apr 29, 2019
About this deal
AI
A multifamily property located at 303 E. Alameda Ave. in Burbank has recently been sold for $8,000,000. The sale, which took place on April 30, 2019, was facilitated by Rick Raymundo from LACMultifamily.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Address: 303 E. Alameda Ave.
- Market: Burbank
The property spans a total area of 17,572 square feet, with a price per square foot of $455.27. It consists of 20 units, with each unit being valued at $400,000. The property's capitalization rate is 4.18%, and its gross rent multiplier is 15.51.
Burbank 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93