Private Investor Acquires MultiFamily Portfolio In Studio City For $5.4M
SOLD
$5,400,000
California
See Similar DealsMultiFamily
Sold 09/20/2016
SOLD
Private Investor Acquires MultiFamily Portfolio In Studio City For $5.4M
3935 Vineland Ave, Studio City, CA, 9...
See Similar DealsMultiFamily
Sold 09/20/2016
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The Vineland Villa Apartments, a 22-unit property located at 3935 Vineland Ave in Studio City, was sold for $5.4 million, exceeding the list price by over $100,000. The property comprises studio, one-bedroom, and two-bedroom units, offering a diverse selection for potential tenants.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $5,400,000.00
- Address: 3935 Vineland Ave, Studio City, CA
- Market: Studio City
- Buyer's Rep: Warren Berzack (Lee & Associates)
- Buyer: Private Investor
- Seller: FCA
Warren Berzack, the president of Berzack Investment Property Advisors, represented both the buyer and seller in the transaction for the Vineland Villa Apartments. Berzack Investment Property Advisors operates as a specialized multifamily group within Lee & Associates-LA North/Ventura.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$288,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06
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