Concord Capital Partners Acquires Multifamily Property In Franklin Canyon For $8.5M

A multifamily property located at 5870 Franklin Ave. in Franklin Canyon has been sold in a recent transaction. The property consists of 38 units and spans 29,440 square feet. The sale price for the property was $8,512,500, resulting in a price per unit of $224,013 and a price per square foot of $289.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,512,500
• Address: 5870 Franklin Ave.
• Market: Franklin Canyon
• Buyer: Concord Capital Partners - Reuben Robin
• Seller: Richard Kotler
• Brokers: Michael Kamara, Michael Sterman, Richard Ringer, and Zach Rosen - Ringer Group
• Units: 38
• Price per Unit: $224,013
• Square Footage: 29,440
• Price per Square Foot: $289

The buyer of the property is Concord Capital Partners represented by Reuben Robin. The seller is Richard Kotler. The Ringer Group, including brokers Michael Kamara, Michael Sterman, Richard Ringer, and Zach Rosen, facilitated the transaction.