The multifamily property located at 7543 Canby Ave. in Reseda was recently sold for a price of $1,650,000. The property consists of 8 units, with each unit having a price per unit (PPU) of $206,250. The total square footage of the property is 5,501, resulting in a price per square foot (PPSF) of $299. The gross rent multiplier (GRM) for this transaction is 17.17x, while the capitalization rate (CAP) is 3.02%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,650,000
• Units: 8
• PPU: $206,250
• SF: 5,501
• PPSF: $299
• GRM: 17.17x
• CAP: 3.02%

The buyer of the property is Sarkis Khatcherian & Nishan Khatcherian, while the seller is Kandiah Perinpanathan. The buyer was represented by Joyce Riskas from Rodeo Realty, and the seller was represented by Filip Niculete, Glen Scher, and Arash Memary (LAAA Team) from Marcus & Millichap. The sale of the property generated four offers within two weeks of marketing.

According to the note from the broker, the property was sold with very low rents and significant deferred maintenance. The sale price of $1,650,000 reflects a 3.02% CAP rate and a 17.17x GRM. The LAAA Team has had a successful year so far in the San Fernando Valley, with nine sales totaling $47.2 million in volume and 128 apartment units sold.