Faruque Sikder Acquires Multifamily Property In Burbank For $4.62M
SOLD
$4,620,000
California
See Similar DealsMultiFamily10,998 SF
Sold 09/21/2021
SOLD
Faruque Sikder Acquires Multifamily Property In Burbank For $4.62M
718 South 5th Street, Burbank, CA 91501
See Similar DealsMultiFamily10,998 SF
Sold 09/21/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$420
Total Square Footage:10,998 SF
Transaction Type:Sale
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.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$246,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,413.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,901.16
Annual Debt Service$262,813.88
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