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9001 Burnet Ave, North Hill...

Multifamily Property In North Hills Sold For $16.3M By Filip Niculete, Glen Scher, Arash Memary, Jonathan Erster, Laurie Lustig-Bower, Kamran Paydar
SOLDMultiFamily

Multifamily Property In North Hills Sold For $16.3M By Filip Niculete, Glen Scher, Arash Memary, Jonathan Erster, Laurie Lustig-Bower, Kamran Paydar

9001 Burnet Ave, North Hills, CA, USA

$16,250,000

$227/SF

Building Size

71,306 SF

Asset Type

MultiFamily

Closing

Oct 30, 2019

AI

9001 Burnet Ave, located in North Hills, has been sold in a recent transaction. The multifamily property spans 71,306 square feet and consists of 43 units. The sale price for this property was $16,250,000, resulting in a price per square foot of $227.89. Each unit was sold at an average price of $377,906.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,250,000
  • Address: 9001 Burnet Ave
  • Market: North Hills
  • Square Footage: 71,306 sqft
  • Number of Units: 43
  • Price per Square Foot: $227.89
  • Average Price per Unit: $377,906

The deal was facilitated by a team of brokers who represented the parties involved in the transaction. The brokers include Filip Niculete, Glen Scher, Arash Memary, Jonathan Erster, Laurie Lustig-Bower, and Kamran Paydar.

Players

Filip Niculete

Marcus & Millichap

Broker

$788.2M

vol

198 deals

Broker

Los Angeles 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

0.98%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93