Brian Botsford Acquires Multifamily Property At 451 Hawthorne Street In Glendale For $10.16M
451 Hawthorne Street
$10,160,000
$429/SF
Building Size
23,673 SF
Asset Type
MultiFamily
Closing
Jul 2, 2024
AI
The transaction involved a multi-family property located at 451 Hawthorne Street in Glendale, which consists of 25 units across a total area of 23,673 square feet. The sale was finalized at a price of $10,160,000, resulting in a price per unit of $406,400 and a price per square foot of $429.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $10,160,000
- Units: 25
- Square Footage: 23,673
- Price Per Unit: $406,400
- Price Per Square Foot: $429
- Buyer: Brian Botsford
- Seller: Hawthorne Property Trust
- Buyer & Seller's Rep: Sevak Keshishian & Shara Parseghian - The SK Group CRE - Marcus & Millichap
Sevak Keshishian and Shara Parseghian, representing both the buyer and the seller, were instrumental in facilitating this transaction through their roles at The SK Group CRE and Marcus & Millichap. Their involvement underscores their expertise in managing multi-family real estate transactions within the Glendale market.
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
1.56%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93