Michael Lerner Acquires Multifamily Property On Langdon Avenue In Van Nuys, CA For $5.8M
8204 Langdon Avenue
$5,800,000
$305,263/SF
Building Size
19 SF
Asset Type
MultiFamily
Closing
Nov 22, 2022
AI
An apartment complex located at 8204 Langdon Avenue in Van Nuys, CA has been sold for a total price of $5,800,000. The property is a multifamily asset consisting of 34 units, with an average price per unit of $170,588. The total square footage of the complex is 19,938, resulting in a price per square foot of $291.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,800,000
- Units: 34
- Price per Unit: $170,588
- Square Footage: 19,938
- Price per Square Foot: $291
The buyer of the property is Michael Lerner, while PI Properties acted as the seller. The brokerage services were provided by Clyde Isaacson from Tamarack Real Estate Services.
Players
Van Nuys MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93