Updated Sep 5, 2024
Dan Hosseini Acquires Northridge Multifamily For $7.6M
8803 Darby Avenue
$7,575,000
$331/SF
Building Size
22,823 SF
Asset Type
MultiFamily
Closing
Jan 10, 2023
About this deal
AI
The multifamily property located at 8803 Darby Avenue in Northridge has been sold in a transaction. The property consists of 25 units with a total square footage of 22,823. The sale price of the property was $7,575,000, resulting in a per unit price of $303,000. The price per square foot was $332.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,575,000
- Address: 8803 Darby Avenue
- Market: Northridge
- Units: 25
- PPU: $303,000
- SF: 22,823
- PPSF: $332
The buyer in this transaction was Dan Hosseini, while the seller was Fred Wasserman. The deal was facilitated by Reza Ghobadi and Jared Papazian from Colliers International.
Players
Northridge MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93