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
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