Lincoln Avenue Capital Acquires Chatsworth Multifamily For $101.8M
SOLD
$101,750,000
California
See Similar DealsMultiFamily300,000 SF
Sold 11/23/2021
SOLD
Lincoln Avenue Capital Acquires Chatsworth Multifamily For $101.8M
9901 Lurline Avenue, Chatsworth, CA, USA
See Similar DealsMultiFamily300,000 SF
Sold 11/23/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$339
Total Square Footage:300,000 SF
Transaction Type:Sale
The multifamily property located at 9901 Lurline Street in Chatsworth, San Fernando Valley, has been sold for a price of $101,750,000. The transaction took place on November 23, 2021. The property consists of 354 units, with an average price per unit of $287,429. The total area of the property is approximately 300,000 square feet, resulting in a price per square foot of $339.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $101,750,000
- Units: 354
- Average Price per Unit: $287,429
- Total Square Footage: 300,000
- Price per Square Foot: $339
The buyer of the property is Lincoln Avenue Capital, while the seller is Nuveen Real Estate. The transaction was facilitated by brokers Dean Zander and Stew Weston from CBRE.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$361,496.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$482,346.91
Annual Debt Service$5,788,162.93
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