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Woodman Nordhoff Apartments...

Woodman Arleta Housing LP Acquires 80-Unit Multifamily In Panorama City For $30M
SOLDMultiFamily

Woodman Arleta Housing LP Acquires 80-Unit Multifamily In Panorama City For $30M

Woodman Nordhoff Apartments, 9135 Woodman Ave, Arleta, CA, USA

$30,000,000

$24,370/SF

Building Size

1,231 SF

Asset Type

MultiFamily

Closing

Apr 14, 2021

AI

A multifamily property located at 9135 Woodman Ave, 14201 Nordhoff St in Panorama City has been sold for a price of $30,000,000. The transaction took place on 04/15/2021. The property consists of 80 units, with an average price per unit of $375,000. The sale was conducted by Julian Weinstock Construction Co., with Woodman Arleta Housing LP as the buyer. The property is located in the Panorama City market.

Summary of transaction details

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

The buyer in this transaction was Woodman Arleta Housing LP, while the seller was Julian Weinstock Construction Co. The deal was facilitated by brokers David B Kaufman from @DavidBKaufman and Corey I Spound from @CoreySpound.

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