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Alexanian Advisors Sells Multifamily Property In Glendale For $5.3M With Buyer's Rep Sara Berger

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SOLD
$5,300,000

California

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MultiFamily11,866 SF
Sold
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SOLD

Alexanian Advisors Sells Multifamily Property In Glendale For $5.3M With Buyer's Rep Sara Berger

510 Winchester Ave, Glendale, CA, USA

See Similar Deals
MultiFamily11,866 SF
Sold
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$446
Total Square Footage:11866 SF
Transaction Type:Sale

A multifamily property located at 510 Winchester Ave in Glendale has been sold for $5,300,000. The property spans 11,866 square feet, resulting in a price per square foot of $446. The transaction took place on 03/02/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,300,000
  • Address: 510 Winchester Ave
  • Market: Glendale

Sara Berger from WEA represented the buyer in this deal. Greg Alexanian and Nick Hayner from Alexanian Apartment Advisors acted as the seller's representatives. It is worth noting that Alexanian Apartment Advisors achieved an impressive 99% of the list price for the seller. Additionally, they negotiated an early release of the deposit to the seller. Alexanian Apartment Advisors have an outstanding track record in the Glendale and Burbank multifamily sector, with over 3,100 units represented.

Players

Greg Alexanian
51 deals$266.9M volume
BROKER

Nick Hayner
 Maywood Property Group
21 deals$110.4M volume(310) 994-9158
BROKER

Sara Berger
Westside Estate Agency
1 deal$5.3M volume
BROKER

Details

SOLD
IMAGE: Sara Berger, Greg Alexanian & Nick Hayner DATE: 03/02/2021 ADDRESS: 510 Winchester Ave MARKET: Glendale ASSET TYPE: Multifamily BUYER’S REP: Sara Berger - WEA SELLER’S REP: Greg Alexanian & Nick Hayner @AlexanianAdvisors SALE PRICE: $5,300,000 SF: 11,866 ~ PPSF: $446 NOTE: @AlexanianAdvisors delivered 99% of list price for the seller and negotiated early release of deposit to the seller. The Alexanian Apartment Advisors continue to dominate the Glendale & Burbank multifamily sector with over 3,100 units represented.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$282,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45