Daniel Ko Acquires 9-Unit Multifamily Property In Panorama City For $3.36M

Located at 8827 Van Nuys Boulevard in Panorama City, CA, this multi-family property has been sold in a closed transaction. The property consists of 9 units with a total of 8,699 square feet. The sale price for this transaction was $3,360,000, resulting in a price per unit of $373,333 and a price per square foot of $386.

Summary of transaction details

• Property Type: MultiFamily
• Sale Price: $3,360,000
• Number of Units: 9
• Price per Unit: $373,333
• Total Square Feet: 8,699
• Price per Square Foot: $386
• Market: Panorama City, CA

The buyer in this transaction was Daniel Ko, while Gina Candari acted as the seller. The seller's representatives involved in the deal were Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap and Haik Bokhchalian from JohnHart Real Estate. Additionally, the buyer obtained a loan with a 54% loan-to-value ratio and a 6.42% interest rate, with a 3-year interest-only term.

According to the seller's representative, the property is a brand new construction from 2023 and is fully stabilized with no rent control measures in place. The property was sold at a 5.19% capitalization rate and a 13.27 gross rent multiplier.