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4417 Hazeltine Avenue, Sher...

Jag Vamda Acquires Multifamily Property In Sherman Oaks For $10.46M
SOLDMultiFamily

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

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

Rick Raymundo

Marcus & Millichap

Broker

$423.9M

vol

54 deals

Broker
Alfred Pace

Alfred Pace

Pacific Urban Residential

Seller

$1.2B

vol

12 deals

Seller

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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