Marcus & Millichap & CP Realty Advisors Sell Glendale Multifamily For $2.5M

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.