George Stein Purchases Multifamily Property From Jason Thorn For $5.075 Million In Sherman Oaks
SOLD
$5,075,000
California
See Similar DealsMultiFamily16,992 SF
Sold
SOLD
George Stein Purchases Multifamily Property From Jason Thorn For $5.075 Million In Sherman Oaks
14616 Magnolia Boulevard
See Similar DealsMultiFamily16,992 SF
Sold
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$298
Total Square Footage:16992 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 14616 Magnolia Boulevard in Sherman Oaks. The sale price was $5,075,000 for a total of 18 units, which breaks down to a price per unit of $281,944. The total square footage of the property is 16,992, resulting in a price per square foot of $298.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,075,000
- Units: 18
- Price Per Unit: $281,944
- Square Footage: 16,992
- Price Per Square Foot: $298
- Buyer: George Stein
- Seller: Jason Thorn
- Brokers: Rick Raymundo & Philip Rodgers - Marcus & Millichap
The transaction features key individuals including the buyer, George Stein, and the seller, Jason Thorn. Representing the parties in this deal are brokers Rick Raymundo and Philip Rodgers from Marcus & Millichap, who facilitated the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$270,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,030.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,058.09
Annual Debt Service$288,697.07
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