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9135 Woodman Avenue

Woodman Arleta Housing LP Acquires Multifamily Asset In Panorama City For $30M
SOLDMultiFamily

Woodman Arleta Housing LP Acquires Multifamily Asset In Panorama City For $30M

9135 Woodman Avenue

$30,000,000

Building Size

Asset Type

MultiFamily

Closing

Apr 14, 2021

AI

Woodman Nordhoff, located at 9135 Woodman Ave and 14201 Nordhoff St in Panorama City, has been sold in a closed transaction. The multifamily property was purchased by Woodman Arleta Housing LP from Julian Weinstock Construction Co. The deal was brokered by David B Kaufman of @DavidBKaufman and Corey I Spound of @CoreySpound.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $30,000,000
  • Units: 80
  • Price Per Unit: $375,000
  • Capitalization Rate: 3.6

The Woodman Nordhoff sale highlights the collaboration between Woodman Arleta Housing LP and Julian Weinstock Construction Co. The transaction was facilitated by David B Kaufman from @DavidBKaufman and Corey I Spound from @CoreySpound. With its desirable location in Panorama City and a total of 80 units, this multifamily property offers an attractive investment opportunity.

Players

Corey Spound

Broker

$124.4M

vol

6 deals

Broker

Woodman Arleta

Buyer

$60M

vol

2 deals

Buyer

Julian Weinstock

Construction Co.

Seller

$60M

vol

2 deals

Seller

Arleta 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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93