Ronald Mayer Acquires Multifamily Property In San Fernando Valley For $7.8M
SOLD
$7,825,000
California
See Similar DealsMultiFamily18,389 SF
Sold 06/08/2022
SOLD
Ronald Mayer Acquires Multifamily Property In San Fernando Valley For $7.8M
8555 Independence Avenue, Canoga Park, California 91304, United States
See Similar DealsMultiFamily18,389 SF
Sold 06/08/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$425
Total Square Footage:18,389 SF
Transaction Type:Sale
The multifamily property located at 8555 Independence Ave in the San Fernando Valley has been sold. The transaction took place on 06/08/2022, with a sale price of $7,825,000. The property consists of 29 units, with an average price per unit of $269,827. The total square footage of the property is 18,389, and the price per square foot is $425.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,825,000
- Units: 29
- Price per Unit: $269,827
- Total Square Footage: 18,389
- Price per Square Foot: $425
The buyer in this transaction is Ronald Mayer, while Ying Zhang is the seller. The deal was facilitated by broker Rob Renshaw from Taksa Investment Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$417,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,800.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,094.49
Annual Debt Service$445,133.91
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