Neema Ahadian & Sean Nami Acquire Multifamily Properties In Van Nuys For $29.4M
SOLD
$29,420,000
California
See Similar DealsMultiFamily67,598 SF
Sold 02/17/2022
SOLD
Neema Ahadian & Sean Nami Acquire Multifamily Properties In Van Nuys For $29.4M
6545 Fulton Avenue, Van Nuys, California 91401, United States
See Similar DealsMultiFamily67,598 SF
Sold 02/17/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$435
Total Square Footage:67,598 SF
Transaction Type:Sale
Three multifamily properties located at 6545 Fulton Ave, 6711 Haskell Ave, and 16751 Victory Blvd in the Van Nuys market have been sold for a total price of $29,420,000. The sale was finalized on February 17, 2022. The properties comprise a total of 68 units, with an average price per unit of $432,647. The combined square footage of the properties is 67,598, resulting in an average price per square foot of $435.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $29,420,000
- Units: 68
- Price per Unit: $432,647
- Total Square Footage: 67,598
- Price per Square Foot: $435
The sale of these properties was facilitated by Neema Ahadian and Sean Nami of Marcus & Millichap. They represented the buyers and sellers in the transaction, showcasing their expertise in the Van Nuys market. The involvement of these brokers highlights their role in successfully executing the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,569,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,523.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$139,465.81
Annual Debt Service$1,673,589.71
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