Goldrich & Kest Acquires Multifamily Property In Reseda For $23.95M
SOLD
$23,950,000
California
See Similar DealsMultiFamily74,930 SF
Sold 05/14/2019
SOLD
Goldrich & Kest Acquires Multifamily Property In Reseda For $23.95M
6425 Reseda Blvd, Reseda, CA, USA
See Similar DealsMultiFamily74,930 SF
Sold 05/14/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$319
Total Square Footage:74,930 SF
Transaction Type:Sale
A multifamily property located at 6425 Reseda Blvd in Reseda has been sold in a transaction by Goldrich & Kest to Lion Real Estate Group for a price of $23,950,000. The property spans an area of 74,930 square feet, resulting in a price per square foot of $319. It consists of 100 units, with an average price per unit of $239,500.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $23,950,000
- Date: 05/14/2019
- Address: 6425 Reseda Blvd
- Market: Reseda
- SF: 74,930
- PPSF: $319
- Units: 100
- PPU: $239,500
The sale of this multifamily property was facilitated by brokers Michael Sterman and Jeff Louks.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,277,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,089.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,535.22
Annual Debt Service$1,362,422.62
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