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

Property Image
SOLD
$30,000,000
Corey Spound
JW
WA

California

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MultiFamily1,231 SF
Sold 04/15/2021
the dealplayerscompscontact
Property Image
SOLD

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

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

See Similar Deals
MultiFamily1,231 SF
Sold 04/15/2021
Corey Spound
JW
WA
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$24,370
Total Square Footage:1,231 SF
Transaction Type:Sale

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
Corey Spound
6 deals$124.4M volume(818) 464-3215
BROKER
WA
Woodman Arleta
2 deals$60M volume
BUYER
WA
Woodman Arleta
2 deals$60M volume
BUYER
JW
Julian Weinstock
2 deals$60M volume
SELLER

Details

SOLD
IMAGE: David B Kaufman @DavidBKaufman, Corey I Spound @CoreySpound DATE: 04/15/2021 ADDRESS: 9135 Woodman Ave, 14201 Nordhoff St - Woodman Nordhoff MARKET: Panorama City ASSET TYPE: Multifamily BUYER: Woodman Arleta Housing LP SELLER: Julian Weinstock Construction Co. BROKERS: David B Kaufman @DavidBKaufman & Corey I Spound @CoreySpound SALE PRICE: $30,000,000 UNITS: 80 ~ PPU: $375,000 CAP: 3.6

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
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