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Peter Coeler Acquires Canoga Park Multifamily For $9M

7032 Remmet Avenue
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This MultiFamily property located in CA was sold for $9,000,000 over 3 years ago. The brokers of the deal were Reza Ghobadi and Jared Papazian

A multifamily property located at 7032 Remmet Ave in Canoga Park was recently sold off-market. The property, built in 1989, consists of 30 units plus 1 nonconforming unit. The offer for this property was accepted within 48 hours, showcasing its desirability in the market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,000,000
  • Address: 7032 Remmet Ave
  • Market: Canoga Park

The buyer of this property is Peter Coeler, while the seller is Jerry Stone. The deal was facilitated by Jared Papazian and Reza Ghobadi, who represented the buyer and seller respectively.

This transaction resulted in a sale price of $9,000,000. The property spans a total area of 30,508 square feet, making the price per square foot $295. With 30 units, the price per unit amounts to $300,000. The capitalization rate for this property is 4.5, and the gross rent multiplier is 13.67.

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Deals
  • Location
    7032 Remmet Avenue, Canoga Park, CA 91303, USA7032 Remmet Avenue, Canoga Park, CA 91303, USA
  • Sale Price
    $9,000,000$9,000,000
    $295 PPSF$295 PPSF
  • Area
    30,508 SF30,508 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Reza Ghobadi

Reza Ghobadi

Deals26
Sold$237.5M

Agency

Colliers International

Colliers International

Agency
Deals1674
Volume$36.2B

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Deal Summary

SALE IMAGE: Reza Ghobadi & Jared Papazian DATE: 06/30/2021 ADDRESS: 7032 Remmet Ave MARKET: Canoga Park ASSET TYPE: Multifamily BUYER: Peter Coeler SELLER: Jerry Stone BROKERS: Jared Papazian (@Jared.Papazian) & Reza Ghobadi (@TeamgHobadi) SALE PRICE: $9,000,000 UNITS: 30 ~ PPU: $300,000 SF: 30,508 ~ PPSF: $295 CAP: 4.5 GRM: 13.67 NOTE: Built 1989 30 units plus 1 nonconforming unit. This was sold off-market and the offer was accepted within 48 hours.

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7032 Remmet Avenue

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