Jung Hsi Acquires Multifamily Property In San Fernando Valley For $1.745M

A multifamily property located at 4500 Vista Del Monte Ave in the San Fernando Valley has been sold for a record price. The property consists of 5 units with a total square footage of 3,254. The sale price for this property was $1,745,000, resulting in a price per unit of $349,000. The price per square foot is $536, and the gross rent multiplier (GRM) is 17.79x. The capitalization rate (CAP) for this property is 3.07%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,745,000
• Address: 4500 Vista Del Monte Ave
• Market: San Fernando Valley

The buyer of the property is Jung Hsi, and the seller is Renee Krasnow. Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap represented the buyer in the deal. Sarah Kotler from Rodeo Realty represented the seller. This sale marks the second-highest price per square foot ever recorded in Sherman Oaks, including both rent-controlled and non-rent controlled sales. Additionally, it is the sixth-highest price per unit ever achieved for a rent-controlled sale in Sherman Oaks.