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Michael Maltzman Acquires Multifamily Property In Silverlake For $3.95M

Property Image
SOLD
$3,950,000

California

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Retail13,956 SF
Sold 12/17/2021
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Property Image
SOLD

Michael Maltzman Acquires Multifamily Property In Silverlake For $3.95M

4115 Normal Avenue, Los Angeles, California 90029, United States

See Similar Deals
Retail13,956 SF
Sold 12/17/2021
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$283
Total Square Footage:13,956 SF
Transaction Type:Sale

Located in the vibrant neighborhood of Silverlake, this multifamily property at 4115 Normal has recently changed hands in a closed transaction. The sale was facilitated by Marcus & Millichap broker Matt Ziegler.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $3,950,000
  • Number of Units: 11
  • Price per Unit: $359,090
  • Square Footage: 13,956
  • Price per Square Foot: $283
  • Market: Silverlake

The buyer, Michael Maltzman, acquired this property from the seller, Michael Rosengarten. The deal represents a significant investment opportunity in Silverlake's real estate market. With a total of 11 units and a spacious size of 13,956 square feet, this multifamily property offers potential for a strong return on investment.

Matt Ziegler from Marcus & Millichap represented both parties in this transaction, facilitating a successful deal. This transaction not only highlights the potential of the property but also underscores the expertise and professionalism of the involved individuals and companies.

Players

Matt Ziegler
26 deals$190.4M volume(310) 403-3325
BROKER

Details

SOLD
IMAGE: Michael Maltzman DATE: 12/17/2021 ADDRESS: 4115 Normal MARKET: Silverlake ASSET TYPE: Multifamily BUYER: Michael Maltzman (@MMaltzman) SELLER: Michael Rosengarten BROKER: Matt Ziegler - Marcus & Millichap SALE PRICE: $3,950,000 UNITS: 11 ~ PPU: $359,090 SF: 13,956 ~ PPSF: $283

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,033.51
Cash-on-Cash Return-1.27%
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