Amit Kleinberger Acquires Multifamily Property In Sherman Oaks For $6.1M

The multifamily property located at 4838-4846 Hazeltine Ave in Sherman Oaks has been sold for a total of $6,100,000. The transaction took place on April 29, 2022. The property consists of 16 units with a total square footage of 14,136. The price per unit is $381,250 and the price per square foot is $431. The gross rent multiplier (GRM) is 15.49x, and the capitalization rate (CAP) is 4.07%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,100,000
• Units: 16
• Price per Unit: $381,250
• Square Footage: 14,136
• Price per Square Foot: $431
• GRM: 15.49x
• CAP: 4.07%

The buyer of the property is Amit Kleinberger, while the sellers are Frank Moll and Evan Levi. The transaction was facilitated by brokers Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap.

It is worth noting that this sale was part of a 1031 Exchange, with both the buyer and seller participating in a triple net lease (NNN) exchange. This transaction set a record for the highest price per unit ever achieved for a rent-controlled property in Sherman Oaks.