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PCS Corp Acquires Multifamily Property In San Fernando Valley For $25.75M

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SOLD
$25,750,000

California

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MultiFamily65,040 SF
Sold
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Property Image
SOLD

PCS Corp Acquires Multifamily Property In San Fernando Valley For $25.75M

5931 Reseda Boulevard, Tarzana, CA, USA

See Similar Deals
MultiFamily65,040 SF
Sold
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$395
Total Square Footage:65,040 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 5931-5919 Reseda Blvd in the San Fernando Valley. The sale took place on May 15, 2019, with a total price of $25,750,000. The building has a total square footage of 65,040, resulting in a price per square foot of $395.91. It consists of 112 units, with an average price per unit of $229,910.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $25,750,000
  • Address: 5931-5919 Reseda Blvd, San Fernando Valley
  • Market: San Fernando Valley
  • Seller: LION LLC
  • Buyer: PCS CORP
  • Broker: Michael Koshet
  • Square Footage: 65,040
  • Price per Square Foot: $395.91
  • Units: 112
  • Price per Unit: $229,910

The transaction was facilitated by Michael Koshet, who represented the buyer and seller in the deal.

Players

Michael Koshet
Keller Williams Realty
Michael Koshet
8 deals$223.4M volume(818) 915-3829
BROKER

Details

SOLD
IMAGE: Michael Koshet DATE: 5/15/2019 ADDRESS: 5931-5919 Reseda Blvd MARKET: San Fernando Valley ASSET TYPE: Multifamily SELLER: LION LLC BUYER: PCS CORP BROKER: Michael Koshet PRICE: $25,750,000 SF: 65,040 ~ PPSF: $395.91 UNITS: 112 PPU: $229,910

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$91,484.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$122,068.14
Annual Debt Service$1,464,817.64