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MacroReal Commercial Inc. Acquires San Fernando Valley Multifamily For $7.3M

13266 Foothill Boulevard
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This MultiFamily property located in CA was sold for $7,300,000 almost 4 years ago. The brokers of the deal were Jordan Epstein, Glen Scher, and Filip (Fil) Niculete

The multifamily property located at 13266 Foothill Blvd. in San Fernando Valley was recently sold for $7,300,000. Built in 1985, this property consists of 28 units with a total square footage of 28,285. The sale price per unit was $260,714, and the price per square foot was $258. The gross rent multiplier (GRM) for this transaction was 13.48x, and the cap rate was 4.25%. It is worth noting that this property is not subject to Los Angeles rent control regulations and was sold with deferred maintenance.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,300,000
  • Address: 13266 Foothill Blvd., San Fernando Valley
  • Market: San Fernando Valley
  • Units: 28
  • Price Per Unit (PPU): $260,714
  • Square Footage (SF): 28,285
  • Price Per Square Foot (PPSF): $258
  • Gross Rent Multiplier (GRM): 13.48x
  • Cap Rate: 4.25%

The buyer of this property was represented by Grady Liu and Martin Ding from MacroReal Commercial Inc. On the other hand, the seller was represented by Glen Scher, Filip Niculete, and Jordan Epstein from the LAAA Team at Marcus & Millichap. This transaction involved multiple offers and the buyer assumed the seller's loan, saving the seller $130,000 in prepay. Additionally, the seller is conducting a 1031 exchange.

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  • Location
    13266 Foothill Boulevard, Sylmar, CA, USA13266 Foothill Boulevard, Sylmar, CA, USA
  • Sale Price
    $7,300,000$7,300,000
    $258 PPSF$258 PPSF
  • Area
    28,285 SF28,285 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Jordan Epstein

Jordan Epstein

Deals19
Sold$49.5M

Glen Scher

Glen Scher

Deals161
Sold$624.5M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Glen Scher, Filip Niculete & Jordan Epstein DATE: 05/28/2021 ADDRESS: 13266 Foothill Blvd. MARKET: San Fernando Valley ASSET TYPE: Multifamily BUYER’S REP: Grady Liu & Martin Ding - MacroReal Commercial Inc. SELLER’S REP: Glen Scher @ScherGlen, Filip Niculete @FNiculete & Jordan Epstein @Spawlding - (LAAA Team @LAAATeam) - Marcus & Millichap SALE PRICE: $7,300,000 UNITS: 28 ~ PPU: $260,714 SF: 28,285 ~ PPSF: $258 GRM: 13.48x CAP: 4.25% NOTES: Built in 1985 | No LA Rent Control Buyer Assumed Seller's Loan Saved Seller $130k in Prepay Generated Multiple Offers Seller is Doing a 1031 Exchange Sold with Deferred Maintenance

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13266 Foothill Boulevard

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