Avi Langer Of LA Apartments Acquires Multifamily Property In Panorama City For $9.3M
SOLD
$9,300,000
California
See Similar DealsMultiFamily201 SF
Sold 04/16/2024
SOLD
Avi Langer Of LA Apartments Acquires Multifamily Property In Panorama City For $9.3M
8434 Willis Avenue
See Similar DealsMultiFamily201 SF
Sold 04/16/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$46,268
Total Square Footage:201 SF
Transaction Type:Sale
The multifamily property located at 8434 Willis Avenue in Panorama City was sold for $9,300,000. The property consists of 72 units, with a price per unit of $129,167. The total square footage of the property is 201, and the price per square foot is $46,269.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $9,300,000
- Buyer: Avi Langer - LA Apartments
- Seller: Hwan Kim
- Brokers: Neema Ahadian & Sean Nami - Marcus & Millichap
Neema Ahadian and Sean Nami from Marcus & Millichap represented the parties involved in the transaction, facilitating the sale of the multifamily property in Panorama City. The deal was successfully closed on 04/16/2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$496,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,040.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,086.74
Annual Debt Service$529,040.94
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