Garnik Tergalstanian Of GTS Investment Group Acquires Multifamily Property In Glendale For $6.35M
700 Palm Drive
$6,350,000
$345/SF
Building Size
18,373 SF
Asset Type
MultiFamily
Closing
Oct 31, 2025
AI
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
Glendale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.50%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93