Private Investor Acquires MultiFamily Portfolio In Studio City For $5.4M
3935 Vineland Ave, Studio City, CA, 9...
$5,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 20, 2016
AI
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.
Players
Studio City 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
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93