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420 W Elmwood Ave

Kenneth N Rosenblatt Acquires MultiFamily Property At 420 W Elmwood Ave From Marilyn Baron For $3.525M
SOLDMultiFamily

Kenneth N Rosenblatt Acquires MultiFamily Property At 420 W Elmwood Ave From Marilyn Baron For $3.525M

420 W Elmwood Ave

$3,525,000

Building Size

Asset Type

MultiFamily

Closing

Aug 1, 2024

AI

The property involved in the transaction is a MultiFamily asset located at 420 W Elmwood Ave in Burbank. The transaction was completed on 08/01/2024 for a total price of $3,525,000.00.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $3,525,000.00
  • Address: 420 W Elmwood Ave
  • Market: Burbank
  • Buyer: Kenneth N Rosenblatt
  • Seller: Marilyn Baron
  • Brokers: Reza Ghobadi (Colliers)

Reza Ghobadi, representing Colliers, facilitated the transaction between the buyer, Kenneth N Rosenblatt, and the seller, Marilyn Baron, ensuring that all aspects of the sale were handled professionally.

Players

Reza Ghobadi

Colliers

Broker

$277.6M

vol

37 deals

Broker

Kenneth N Rosenblatt

Buyer

$3.5M

vol

1 deal

Buyer

Marilyn Baron

Seller

$3.5M

vol

1 deal

Seller

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

4.50%

Cash-on-Cash

-1.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93