Updated Oct 29, 2024
Confidential Buyer Acquires Single Family Property In Burbank For $3.65M
310 East Elmwood Avenue, Burbank, CA 91502, USA
$3,650,000
$362/SF
Building Size
10,064 SF
Asset Type
Single Family Residence
Closing
Oct 26, 2018
About this deal
AI
The single-family property located at 310 E. Elmwood Ave in Burbank has been sold in a recent transaction. The property consists of 8 units with a total square footage of 10,064. The sale price for the property was $3,650,000, resulting in a price per unit of $456,250. The price per square foot stands at $362.67. The gross rent multiplier (GRM) for the property is 16, and the capitalization rate (CAP) is 4.6%. The transaction took place on October 27, 2018. The seller of the property was the Ayvazian Trust, while the buyer's identity remains confidential. The deal was facilitated by Gregory H. Alexanian from Alexanian Advisors.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $3,650,000
- Units: 8
- Price per Unit: $456,250
- Square Footage: 10,064
- Price per Square Foot: $362.67
- Gross Rent Multiplier: 16
- Capitalization Rate: 4.6%
Gregory H. Alexanian from Alexanian Advisors represented the seller, the Ayvazian Trust, in this transaction. The involvement of the buyer and any additional parties related to the deal has not been disclosed.
Burbank Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $362 per square foot on a published $3.7M for 10,064 square feet (2018).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.35%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93