Updated Sep 5, 2024
Faruque Sikder Acquires Multifamily Property In Burbank For $4.62M
718 South 5th Street, Burbank, CA 91501
$4,620,000
$420/SF
Building Size
10,998 SF
Asset Type
MultiFamily
Closing
Sep 21, 2021
About this deal
AI
Located at 718 S. 5th St. in Burbank, this multifamily property was recently sold in a closed transaction. The sale was facilitated by brokers Morgan McMullin and Chris Chasin. The property consists of 11 units with a total square footage of 10,998. The sale price for this transaction was $4,620,000, which translates to a per-unit price of $420,000 and a per-square-foot price of $420.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,620,000
- Address: 718 S. 5th St.
- Market: Burbank
Faruque Sikder purchased the property from Andy Patel. The deal was successfully closed with the assistance of Morgan McMullin and Chris Chasin, who represented the buyer and seller respectively.
On the Map
$4,620,000
$420/SF
MultiFamily
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Players
Burbank 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
3.43%
Cash-on-Cash
-0.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93