Chatsworth Multifamily Sells For $15.2M By La Apartment Advisors
SOLD
$15,200,000
California
See Similar DealsMultiFamily51,944 SF
Sold 12/19/2018
SOLD
Chatsworth Multifamily Sells For $15.2M By La Apartment Advisors
9919 De Soto Avenue, Chatsworth, CA 91311, USA
See Similar DealsMultiFamily51,944 SF
Sold 12/19/2018
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$292
Total Square Footage:51,944 SF
Transaction Type:Sale
A multifamily property located at 9919-9947 De Soto Ave in Chatsworth has been sold for $15,200,000. The property consists of 64 units with a total square footage of 51,944. The price per square foot is approximately $292.62. The cap rate for the property is 4.18% and the gross rent multiplier (GRM) is 13.29.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,200,000
- Address: 9919-9947 De Soto Ave
- Market: Chatsworth
- Units: 64
- Square Footage: 51,944
- Price per Square Foot: $292.62
- Cap Rate: 4.18%
- Gross Rent Multiplier (GRM): 13.29
The sale of this multifamily property was facilitated by Filip Niculete, Glen Scher, and Jonathan Erster of LA Apartment Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$810,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,002.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,055.75
Annual Debt Service$864,669.06
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