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.