Leon Petrosian Acquires Multifamily Property On Naranja Drive In Glendale For $1.48M
SOLD
$1,480,000
California
See Similar DealsMultiFamily3,756 SF
Sold 09/16/2022
SOLD
Leon Petrosian Acquires Multifamily Property On Naranja Drive In Glendale For $1.48M
511 Naranja Drive, Glendale, California 91206, United States
See Similar DealsMultiFamily3,756 SF
Sold 09/16/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$394
Total Square Footage:3,756 SF
Transaction Type:Sale
The multifamily property located at 511 Naranja Dr in Glendale, CA has been sold for a total price of $1,480,000. The transaction took place on September 16, 2022. The property consists of 4 units with an average price per unit (PPU) of $370,000. It spans a total area of 3,756 square feet, resulting in a price per square foot (PPSF) of $394.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,480,000
- Address: 511 Naranja Dr, Glendale, CA
- Market: Glendale, CA
The buyer of the property is Leon Petrosian and the seller is John Little. The transaction was facilitated by Andy C. Kawatra of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$78,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,258.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,015.96
Annual Debt Service$84,191.46
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