Garnik Tergalstanian Of GTS Investment Group Acquires Multifamily Property In Glendale For $6.35M
SOLD
$6,350,000
California
See Similar DealsMultiFamily18,373 SF
Sold 10/31/2025
SOLD
Garnik Tergalstanian Of GTS Investment Group Acquires Multifamily Property In Glendale For $6.35M
700 Palm Drive
See Similar DealsMultiFamily18,373 SF
Sold 10/31/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$345
Total Square Footage:18,373 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily asset located at 700 Palm Drive in Glendale. It sold for $6,350,000 and comprises 14 units, with a price per unit of $453,571. The total square footage is 18,373, resulting in a price per square foot of $345.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,350,000
- Units: 14
- Price Per Unit: $453,571
- Square Footage: 18,373
- Price Per Square Foot: $345
- Buyer: Garnik Tergalstanian - GTS Investment Group
- Seller: Michael H Saperstein - Michael H. Saperstein Family Trust
- Brokers: Arian Rejaei & Darin Beebower - Kidder Mathews
The individuals involved in the transaction include Garnik Tergalstanian, representing GTS Investment Group as the buyer, and Michael H Saperstein, representing the Michael H. Saperstein Family Trust as the seller. The brokers who facilitated the deal were Arian Rejaei and Darin Beebower from Kidder Mathews.
Players
BROKERAGE
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,560.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,102.24
Annual Debt Service$361,226.88
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