Prime Residential Purchases Multifamily Property At 6203 Variel Ave Woodland Hills For $48.5M
SOLD
$48,500,000
California
See Similar DealsMultiFamily
Sold 01/01/2020
SOLD
Prime Residential Purchases Multifamily Property At 6203 Variel Ave Woodland Hills For $48.5M
6203 Variel Ave
See Similar DealsMultiFamily
Sold 01/01/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in this transaction is a MultiFamily property located at 6203 Variel Ave in Woodland Hills. The sale price for this property was $48,500,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $48,500,000.00
- Address: 6203 Variel Ave
- Market: Woodland Hills
- Buyer: Prime Residential
- Broker: Derrek Ostrzyzek - CBRE
- Sale Date: 01/01/2020
Prime Residential was the buyer in this transaction, securing representation through broker Derrek Ostrzyzek from CBRE. The deal was completed on January 1, 2020, indicating a successful acquisition in the Woodland Hills market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$172,310.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$229,914.74
Annual Debt Service$2,758,976.92
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