Dan Hosseini Acquires Northridge Multifamily For $7.6M
SOLD
$7,575,000
California
See Similar DealsMultiFamily22,823 SF
Sold 01/10/2023
SOLD
Dan Hosseini Acquires Northridge Multifamily For $7.6M
8803 Darby Avenue
See Similar DealsMultiFamily22,823 SF
Sold 01/10/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$331
Total Square Footage:22,823 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$403,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,912.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,909.36
Annual Debt Service$430,912.38
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