Marcus & Millichap & CP Realty Advisors Sell Glendale Multifamily For $2.5M
SOLD
$2,475,000
California
See Similar DealsMultiFamily5,376 SF
Sold 03/06/2019
SOLD
Marcus & Millichap & CP Realty Advisors Sell Glendale Multifamily For $2.5M
357 W Wilson Ave, Glendale, CA, USA
See Similar DealsMultiFamily5,376 SF
Sold 03/06/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$460
Total Square Footage:5,376 SF
Transaction Type:Sale
A multifamily property located at 357 West Wilson Ave in Glendale has been sold for a total price of $2,475,000. The property, consisting of 6 units, spans 5,376 square feet, resulting in a price per square foot of $460.38. The transaction was closed on March 6, 2019, with a capitalization rate of 4.09% and a gross rent multiplier of 16.00. Rick Raymundo from Marcus & Millichap and Patrick Meaney from CP Realty Advisors represented the sellers and buyers respectively.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,475,000
- Address: 357 West Wilson Ave
- Market: Glendale
- Square Footage: 5,376
- Price per Square Foot: $460.38
- Number of Units: 6
- Price per Unit: $412,500
- Capitalization Rate: 4.09%
- Gross Rent Multiplier: 16.00
Rick Raymundo from Marcus & Millichap and Patrick Meaney from CP Realty Advisors were the brokers involved in this transaction, representing their respective clients.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$132,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,793.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,732.76
Annual Debt Service$140,793.15
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