Updated Dec 21, 2023
Jag Vamda Acquires Multifamily Property In Sherman Oaks For $10.46M
4417 Hazeltine Avenue, Sherman Oaks, CA, USA
$10,460,000
$463/SF
Building Size
22,585 SF
Asset Type
MultiFamily
Closing
Aug 23, 2021
About this deal
AI
Located in the market of Sherman Oaks, the multifamily property at 4417 Hazeltine Avenue recently changed ownership in a closed transaction. The property comprises 24 units with a total square footage of 22,585. The sale price for this transaction was $10,460,000, which equates to an average price per unit of $435,833. The price per square foot stands at $463. The Gross Rent Multiplier (GRM) is calculated at 16.33x, and the Capitalization Rate (CAP) is at 3.53%.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $10,460,000
- Units: 24
- Price per Unit (PPU): $435,833
- Square Footage (SF): 22,585
- Price per Square Foot (PPSF): $463
- Gross Rent Multiplier (GRM): 16.33x
- Capitalization Rate (CAP): 3.53%
Jag Vamda became the new buyer of the property, while Al Pace served as the seller. The transaction was facilitated by Rick Raymundo from Marcus & Millichap, who represented both the buyer and the seller in this deal.
Players
Los Angeles 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
1.52%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93