Mark Colman Purchases Sherman Oaks Multifamily Asset At 5233 Tilden Avenue For $2.1M With Representation From Jason Matatiaho & Michael Monempour

The property asset involved in the transaction is a multifamily building located at 5233 Tilden Avenue in Sherman Oaks. The asset was sold for $2,100,000 and consists of 14 units covering a total square footage of 12,607. The price per unit is $150,000, with a price per square foot of $166. The gross rent multiplier is recorded at 6.74, and the cap rate stands at 8.59%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,100,000
• Units: 14
• Square Footage: 12,607
• Price per Unit: $150,000
• Price per Square Foot: $166
• Gross Rent Multiplier: 6.74
• Cap Rate: 8.59%
• Buyer: Mark Colman
• Seller: James Van Trees
• Buyer's Representative: Jason Matatiaho & Michael Monempour - Lyon Stahl Investment Real Estate

Michael Monempour and Jason Matatiaho of Lyon Stahl Investment Real Estate successfully represented the buyer, Mark Colman, in this off-market transaction. Notably, the buyer is required to bring the property up to full compliance to exit the REAP program, which involves resolving significant deferred maintenance issues. As part of this process, 50% of rents are withheld, and four units were delivered vacant at the close of escrow.