Rick Raymundo Brokers $11.7M Sale Of Tarzana Multifamily Property
6251-6267 Reseda Boulevard
MultiFamily
419,440 SF
419,440 SF
Sold 1 year ago
Summary
An investment property located at 6251-6267 Reseda Blvd in Tarzana has been recently sold in a closed transaction. The multifamily asset consists of 52 units and spans a total of 41,944 square feet. The sale price for this property was $11,740,000, resulting in a price per square foot of $279.90. Furthermore, the per unit price stood at $225,769. The capitalization rate (CAP) for this transaction was recorded at 4.84%, with a pro forma cap rate of 6.44%. The gross rent multiplier (GRM) was 12.95, while the pro forma GRM was 10.33.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,740,000
- Market: Tarzana
- Address: 6251-6267 Reseda Blvd
- Square footage: 41,944
- Price per square foot: $279.90
- Number of units: 52
- Price per unit: $225,769
- Capitalization Rate (CAP): 4.84%
- Pro forma CAP: 6.44%
- Gross Rent Multiplier (GRM): 12.95
- Pro forma GRM: 10.33
Rick Raymundo, a broker representing the deal, facilitated the transaction of this multifamily property in Tarzana.
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6251-6267 Reseda Boulevard
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