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Jones & Jones Acquires San Fernando Valley Multifamily For $25.05M

11915, 11935 & 11940 Kling Street
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This MultiFamily property located in CA was sold for $25,050,000 over 3 years ago. The brokers of the deal were Tony Azzi, Jordan Asheghian, Glen Scher, and Filip (Fil) Niculete

The multifamily property located at 11915, 11935, and 11940 Kling St. in San Fernando Valley has been sold for a total price of $25,050,000. The property consists of 80 units, spanning a total area of 80,602 square feet. The sale price per unit is approximately $313,125, while the price per square foot is $310. The property's capitalization rate (CAP) is 3.52%, and the gross rent multiplier (GRM) stands at 16.10x.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $25,050,000
  • Units: 80
  • Price per Unit (PPU): $313,125
  • Square Footage (SF): 80,602
  • Price per Square Foot (PPSF): $310
  • CAP: 3.52%
  • GRM: 16.10x

The buyer for this transaction is Jones & Jones, while the seller is Abady Holdings. Marcus & Millichap represented both parties in the deal. The buyer's representatives were Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap. On the other hand, Tony Azzi and Jordan Asheghian, also from Marcus & Millichap, represented the seller.

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Deals
  • Location
    11915 Kling Street, Valley Village, CA, USA11915 Kling Street, Valley Village, CA, USA
  • Sale Price
    $25,050,000$25,050,000
    $310 PPSF$310 PPSF
  • Area
    80,602 SF80,602 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Tony Azzi

Tony Azzi

Deals41
Sold$304.4M

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: Jordan Asheghian, Tony Azzi, Glen Scher & Filip Niculete DATE: 07/20/2021 ADDRESS: 11915, 11935 & 11940 Kling St. MARKET: San Fernando Valley ASSET TYPE: Multifamily BUYER: Jones & Jones SELLER: Abady Holdings BUYER’S REP: Filip Niculete (@FNiculete) & Glen Scher (@ScherGlen) (LAAA Team) (@LAAATeam) - Marcus & Millichap SELLER’S REP: Tony Azzi & Jordan Asheghian (@InstaYord) (@The_AzziGroup) - Marcus & Millichap SALE PRICE: $25,050,000 UNITS: 80 ~ PPU: $313,125 SF: 80,602 ~ PPSF: $310 GRM: 16.10x CAP: 3.52% NOTES: 80 Units. 80,602 SF. $310.79 per SF. $313,125 per Unit. 3.52% CAP. 16.10 GRM

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11915, 11935 & 11940 Kling Street

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