Rick Raymundo Brokers $11.7M Sale Of Tarzana Multifamily Property

An investment property located at 6251-6267 Reseda Blvd in Tarzana has been recently sold in a closed transaction. The multifamily asset consists of 52 units and spans a total of 41,944 square feet. The sale price for this property was $11,740,000, resulting in a price per square foot of $279.90. Furthermore, the per unit price stood at $225,769. The capitalization rate (CAP) for this transaction was recorded at 4.84%, with a pro forma cap rate of 6.44%. The gross rent multiplier (GRM) was 12.95, while the pro forma GRM was 10.33.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $11,740,000
• Market: Tarzana
• Address: 6251-6267 Reseda Blvd
• Square footage: 41,944
• Price per square foot: $279.90
• Number of units: 52
• Price per unit: $225,769
• Capitalization Rate (CAP): 4.84%
• Pro forma CAP: 6.44%
• Gross Rent Multiplier (GRM): 12.95
• Pro forma GRM: 10.33

Rick Raymundo, a broker representing the deal, facilitated the transaction of this multifamily property in Tarzana.