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Bruce Bernard Acquires 18-Unit Multifamily In North Hollywood For $8.35M

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SOLD
$8,350,000

California

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MultiFamily14,200 SF
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SOLD

Bruce Bernard Acquires 18-Unit Multifamily In North Hollywood For $8.35M

5543 Case Avenue, North Hollywood, California 91601, United States

See Similar Deals
MultiFamily14,200 SF
Sold
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$588
Total Square Footage:14200 SF
Transaction Type:Sale

The multifamily property located at 5543 Case Ave in North Hollywood has been sold in a transaction on 05/31/2022. The property consists of 18 units with a total square footage of 14,200. The sale price for this transaction was $8,350,000, resulting in a price per unit of $463,888 and a price per square foot of $588.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,350,000
  • Address: 5543 Case Ave
  • Market: North Hollywood
  • Units: 18
  • Square Footage: 14,200
  • Price per Unit: $463,888
  • Price per Square Foot: $588

The buyer in this transaction was Bruce Bernard, represented by Yana Vlady and Richard J. Ringer from Marcus & Millichap. The seller, Artak Chobanyan, was represented by David Nalbandyan from LA Premier Group.

Players

Richard Ringer
19 deals$169.7M volume
BROKER

Yana Vlady
Marcus & Millichap
12 deals$58.7M volume
BROKER

David Nalbandyan
3 deals$14.1M volume
BROKER

Details

SOLD
IMAGE: Richard Ringer, David Nalbandyan & Yana Vlady DATE: 05/31/2022 ADDRESS: 5543 Case Ave. MARKET: North Hollywood ASSET TYPE: Multifamily BUYER: Bruce Bernard SELLER: Artak Chobanyan BUYER’S REP: Yana Vlady (@VladyCRE) & Richard J. Ringer (@RingerGroup) - Marcus & Millichap (@MarcusMillichapLosAngeles) SELLER’S REP: David Nalbandyan - LA Premier Group SALE PRICE: $8,350,000 UNITS: 18 ~ PPU: $463,888 SF: 14,200 ~ PPSF: $588

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

$445,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,665.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,583.26
Annual Debt Service$474,999.12