Ridan Inc. Acquires Van Nuys Multifamily Property For $18.8M
6205 Woodman Ave, Van Nuys, CA, USA
$18,800,000
$293/SF
Building Size
64,053 SF
Asset Type
MultiFamily
Closing
Oct 7, 2019
AI
United Overseas Investment Inc. has sold a multifamily property located at 6205 Woodman Ave in Van Nuys. The property, consisting of 75 units, was purchased by Ridan Inc. for a total price of $18,800,000. The sale was facilitated by Rick Raymundo from Marcus & Millichap.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $18,800,000
- Square Footage: 64,053
- Price per Square Foot: $293
- Units: 75
- Price per Unit: $250,666
Rick Raymundo, from Marcus & Millichap, represented United Overseas Investment Inc. in the transaction. The sale of this multifamily property in Van Nuys highlights the successful collaboration between the sellers and buyers, resulting in a significant deal in the local market.
Players
Van Nuys MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93