Glen Scher, Filip Niculete & Makan Mostafavi Sell 6-Unit Multifamily In San Fernando Valley For $1.7M

A multifamily property located at 4540 Laurel Canyon Blvd in San Fernando Valley was recently sold for a price of $1,700,000. The property consists of 6 units with a total square footage of 4,325. The price per unit comes out to be $283,333, and the price per square foot is $393. The capitalization rate (CAP) for this transaction is 3.79%, with a gross rent multiplier (GRM) of 16.20. The property generated multiple offers and was ultimately sold to a 1031 Exchange Buyer.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,700,000
• Units: 6
• Price per Unit (PPU): $283,333
• Total Square Footage (SF): 4,325
• Price per Square Foot (PPSF): $393
• CAP: 3.79%
• GRM: 16.20

The sale of this property was facilitated by brokers Filip Niculete, Glen Scher, and Makan Mostafavi. Their efforts resulted in a successful transaction, attracting multiple offers. The buyer of this property was a 1031 Exchange Buyer, indicating their intention to defer capital gains tax by reinvesting the proceeds from a previous real estate sale into this property.