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Hill Street Realty Acquires Multifamily Property In Tarzana For $27.1M

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SOLD
$27,100,000

California

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MultiFamily84,864 SF
Sold 10/16/2020
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Property Image
SOLD

Hill Street Realty Acquires Multifamily Property In Tarzana For $27.1M

6262 Reseda Blvd, Tarzana, CA 91335, Estados Unidos

See Similar Deals
MultiFamily84,864 SF
Sold 10/16/2020
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$319
Total Square Footage:84,864 SF
Transaction Type:Sale

The multifamily property located at 6262-6322 Reseda Blvd in Tarzana has been sold in a closed transaction. The property spans a total of 84,864 square feet and was sold for a price of $27,100,000, resulting in a price per square foot of $319.33. The buyer of the property was Hill Street Realty, while the seller was Bechirian Investments.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $27,100,000
  • Address: 6262-6322 Reseda Blvd, Tarzana
  • Market: Tarzana
  • Square Footage: 84,864

The deal was facilitated by the brokers Michael Sterman and Jeff Louks. They represented the respective parties in the transaction, ensuring a successful sale. The property consists of 118 units, with each unit priced at approximately $229,661. This transaction showcases the expertise and professionalism of the brokers involved in the deal, demonstrating their commitment to serving their clients.

Players

Jeff Louks
33 deals$337.6M volume(310) 941-5899
BROKER

Michael Sterman
Marcus & Millichap
39 deals$307.7M volume(818) 943-2319
BROKER

Hill Street Realty
BUYER

Details

SOLD
IMAGE: IMAGE: Michael Sterman & Jeff Louks DATE: 10/16/2020 ADDRESS: 6262-6322 Reseda Blvd MARKET: Tarzana ASSET TYPE: Multifamily BUYER: Hill Street Realty SELLER: Bechirian Investments BROKERS: Michael Sterman, Jeff Louks E PRICE: $27,100,000 SF: 84,864 / PPSF: $319.33 UNITS: 118 units / PPU: $229,661

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

$1,445,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$96,280.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$128,467.83
Annual Debt Service$1,541,613.91