Updated Dec 21, 2023
Peter Coeler Acquires Canoga Park Multifamily For $9M
7032 Remmet Avenue, Canoga Park, CA 91303, USA
$9,000,000
$295/SF
Building Size
30,508 SF
Asset Type
MultiFamily
Closing
Jun 30, 2020
About this deal
AI
A multifamily property located at 7032 Remmet Ave in Canoga Park was recently sold off-market. The property, built in 1989, consists of 30 units plus 1 nonconforming unit. The offer for this property was accepted within 48 hours, showcasing its desirability in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Address: 7032 Remmet Ave
- Market: Canoga Park
The buyer of this property is Peter Coeler, while the seller is Jerry Stone. The deal was facilitated by Jared Papazian and Reza Ghobadi, who represented the buyer and seller respectively.
This transaction resulted in a sale price of $9,000,000. The property spans a total area of 30,508 square feet, making the price per square foot $295. With 30 units, the price per unit amounts to $300,000. The capitalization rate for this property is 4.5, and the gross rent multiplier is 13.67.
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Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93