facebook

traded

+ Submit
Home

/

Deals

/

California

/

Multifamily

/

Sale

/

5870 Franklin Avenue, Los A...

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

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

5870 Franklin Avenue, Los Angeles, California 90028, United States

$8,512,500

$289/SF

Building Size

29,440 SF

Asset Type

MultiFamily

Closing

Jan 14, 2022

AI

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.

Players

Michael Sterman

Marcus & Millichap

Broker

$307.7M

vol

39 deals

Broker
Reuben Robin

Reuben Robin

Concord Capital Partners

Buyer

$206.4M

vol

7 deals

Buyer

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.86%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93