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Athanasia Wendt Acquires Multifamily Property In Glendale, CA For $8.95M

1060 Raymond Avenue
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This MultiFamily property located in CA was sold for $8,950,000 over 1 year ago. The brokers of the deal were Michael Monempour and David Saghian

The multifamily property located at 1060 Raymond Ave in Glendale, CA has been sold in a recent transaction. The property consists of 20 units with a total square footage of 16,169. The sale price for the property was $8,950,000, resulting in a price per unit of $447,500 and a price per square foot of $554.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,950,000
  • Units: 20
  • Price Per Unit: $447,500
  • Square Footage: 16,169
  • Price Per Square Foot: $554

Athanasia Wendt was the buyer of the property, while Michael Gerro served as the seller. The brokers involved in the transaction were Michael Monempour and David Saghian from Kidder Mathews.

It is worth noting that the property was sold for $447,500 per unit and $550 per square foot. The Gross Rent Multiplier (GRM) was 19, and the Capitalization Rate (CAP) was 3.07%. This purchase served as the up leg for the buyer's 1031 Tax Deferred Exchange. Furthermore, Monempour and Saghian had previously sold their down leg 60 days ago.

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Deals
  • Location
    1060 Raymond Avenue1060 Raymond Avenue
  • Sale Price
    $8,950,000$8,950,000
    $553 PPSF$553 PPSF
  • Area
    16,169 SF16,169 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 2 Agencies2 Brokers, 2 Agencies

Agents

David Saghian

David Saghian

Deals16
Sold$67.5M

Agencies

Lyon Stahl Investment Real Estate

Lyon Stahl Investment Real Estate

Agency
Deals93
Volume$571.5M

Kidder Mathews

Kidder Mathews

Agency
Deals322
Volume$4.1B

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Deal Summary

SALE IMAGE: David Saghian & Michael Monempour DATE: 09/26/2022 ADDRESS: 1060 Raymond Ave MARKET: Glendale, CA ASSET TYPE: Multifamily BUYER: Athanasia Wendt SELLER: Michael Gerro BROKERS: Michael Monempour (@Mike_Monem) & David Saghian (@Davidsaghian10) - Kidder Mathews SALE PRICE: $8,950,000 UNITS: 20 ~ PPU: $447,500 SF: 16,169 ~ PPSF: $554 NOTE FROM BROKER: Property sold for $447,500/Unit, $550/SF, 19 GRM & 3.07% CAP. This was the Up leg for Buyer's 1031 Tax Deferred Exchange. Monempour & Saghian had sold their Down leg 60 Days ago.

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1060 Raymond Avenue

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