Updated Dec 21, 2023
Michael Razbannia Acquires 8-Unit Multifamily In North Hollywood For $1.975M
7105 Ethel Avenue, North Hollywood, CA, USA
$1,975,000
$248/SF
Building Size
7,938 SF
Asset Type
MultiFamily
Closing
Jul 9, 2020
About this deal
AI
A multifamily property located at 7105 Ethel Ave. in North Hollywood has been sold for $1,975,000. The property consists of 8 units with a total square footage of 7,938. The sale price per unit was $246,000, and the price per square foot was $248.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,975,000
- Units: 8
- Price per Unit: $246,000
- Square Footage: 7,938
- Price per Square Foot: $248
- Date: 07/09/2021
- Buyer: Michael Razbannia
- Seller: Sylvia Gil
- Brokers: Tony Sameyah & Reza Ghobadi
The transaction was facilitated by brokers Tony Sameyah and Reza Ghobadi. Their expertise and negotiation skills played a crucial role in completing the deal between the buyer, Michael Razbannia, and the seller, Sylvia Gil.
Players
North Hollywood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.03%
Cash-on-Cash
-2.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93