Updated Nov 15, 2023
Carter Lang Acquires Remote Home In Glendale Mountains For $2.5M
Glendale
$2,500,000
$497/SF
Building Size
5,023 SF
Asset Type
Single Family Residence
Closing
Jun 21, 2023
About this deal
AI
Grammy-nominated producer Carter Lang has purchased a remote home in the mountains north of Los Angeles for over $2.5 million. The 1920s property has been transformed and offers four bedrooms, rustic wood floors, and outdoor patios for entertainment. Additionally, the property includes a music studio, providing Lang with the perfect space to work on his music.
Summary of transaction details:
- Property Type: Single Family
- Sale Price: $2,500,000
- Square Footage: 5,023
- Price per Square Foot: $498
- Market: Glendale
- Acres: 0.17
Carter Lang, a Grammy-nominated producer, made the purchase for this remote mountain home. The property's location in the mountains north of Los Angeles offers a serene getaway from the bustling city. With its four bedrooms, rustic wood floors, and outdoor patios, it provides a perfect space for entertaining guests. Additionally, Lang will have the luxury of a music studio within the property, allowing him to work on his music in a tranquil environment.
Players
Los Angeles Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $497 per square foot on a published $2.5M for 5,023 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93