Updated Oct 28, 2024
Harapetian Investment Group Acquires Multifamily Property In Glendale For $5.1M
919 East Acacia Avenue
$5,100,000
$337/SF
Building Size
15,133 SF
Asset Type
MultiFamily
Closing
May 19, 2021
About this deal
AI
The multifamily property located at 919 E Acacia Ave in Glendale has been sold for $5,100,000. The transaction took place on May 19, 2021. The property consists of 20 units, with each unit priced at $255,000. The total square footage of the property is 15,133, resulting in a price per square foot of $337. The gross rent multiplier (GRM) for the property is 15.65, and the capitalization rate (CAP) is 3.85%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,100,000
- Units: 20
- Price per Unit: $255,000
- Square Footage: 15,133
- Price per Square Foot: $337
- Gross Rent Multiplier (GRM): 15.65
- Capitalization Rate (CAP): 3.85%
The buyer of the property is Harapetian Investment Group, while the seller is Kevin Singer. The deal was facilitated by broker Andy Kawatra.
Players
Glendale 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
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93