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Pech Akopian Purchases Multifamily Asset At 617 Stocker Street In Glendale For $3.546M

Property Image
SOLD
$3,546,000

California

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MultiFamily8,816 SF
Sold 02/20/2025
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SOLD

Pech Akopian Purchases Multifamily Asset At 617 Stocker Street In Glendale For $3.546M

617 Stocker Street

See Similar Deals
MultiFamily8,816 SF
Sold 02/20/2025
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$402
Total Square Footage:8,816 SF
Transaction Type:Sale

The transaction involved a multifamily asset located at 617 Stocker Street in Glendale. The property comprised 9 units and had a total square footage of 8,816, reflecting a per-unit price of $394,000 and a price per square foot of $402. The sale concluded with a total transaction amount of $3,546,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,546,000
  • Units: 9
  • Square Footage: 8,816
  • Price Per Unit: $394,000
  • Price Per Square Foot: $402
  • Buyer: Pech Akopian
  • Seller: Eric Terry
  • Buyer & Seller's Representative: Greg Alexanian - Alexanian Apartment Advisors

This transaction was primarily facilitated by Greg Alexanian, who represented both the buyer, Pech Akopian, and the seller, Eric Terry, ensuring a smooth process through his brokerage, Alexanian Apartment Advisors. The note from the broker referenced was Matthew 6:33.

Players

Greg Alexanian
52 deals$268.3M volume
BROKER

Details

SOLD
IMAGE: Greg Alexanian DATE: 02/20/2025 ADDRESS: 617 Stocker Street MARKET: Glendale ASSET TYPE: Multifamily BUYER: Pech Akopian SELLER: Eric Terry BUYER & SELLER'S REP: Greg Alexanian (@AlexanianAdvisors) - Alexanian Apartment Advisors (@AlexanianAdvisors) SALE PRICE: $3,546,000 UNITS: 9 ~ PPU: $394,000 SF: 8,816 ~ PPSF: $402 NOTE FROM BROKER: Matthew 6:33 ------------ Represented seller & buyer

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,598.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,809.85
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