Dr. Andre Aboolian Acquires Multifamily Property At 440 West Milford Street For $4.2M
440 West Milford Street
$4,200,000
$443/SF
Building Size
9,476 SF
Asset Type
MultiFamily
Closing
Nov 6, 2024
AI
The property involved in this transaction is a multifamily asset located at 440 West Milford Street, Glendale. The sale occurred for a price of $4,200,000, encompassing 12 units within a total square footage of 9,476. This results in a price per unit of $350,000 and a price per square foot of $443.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Units: 12
- Square Footage: 9,476
- Price per Unit: $350,000
- Price per Square Foot: $443
- Buyer: Dr. Andre Aboolian - Milford Urban Homes
- Seller: Sylvan Gerber - Pluma
- Buyer's Representative: Sam Manoukian - DPI-Diversified Property Investments
- Seller's Representative: Kenny Stevens - Compass
The key individuals involved in this transaction include Dr. Andre Aboolian, representing Milford Urban Homes as the buyer, and Sylvan Gerber, representing Pluma as the seller. Sam Manoukian from DPI-Diversified Property Investments served as the buyer's representative, while Kenny Stevens from Compass acted as the seller's representative, facilitating the sale process.
Players
Glendale 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93