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Kenneth Noble Acquires Multifamily Property On Tujunga Ave. In San Fernando Valley For $7.9M

4077-4083 Tujunga Avenue
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This MultiFamily property located in CA was sold for $7,925,000 over 2 years ago. The brokers of the deal were Brent Gibeaut, Martin Ensbury, Jonathan Erster, Glen Scher, and Filip (Fil) Niculete

Located at 4077-4083 Tujunga Ave. in the San Fernando Valley, this multifamily property was recently sold in a closed transaction. The property consists of 16 units with a total square footage of 14,342. The sale price for this transaction was $7,925,000, resulting in a per unit price of $495,313 and a price per square foot of $552.57.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,925,000
  • Units: 16
  • Price per Unit: $495,313
  • Square Footage: 14,342
  • Price per Square Foot: $552.57
  • Market: San Fernando Valley

The buyer for this transaction was Kenneth Noble, while Andrew Daley served as the seller. Martin Ensbury from KW and Brent Gibeaut from ML Commercial Properties Inc. represented the buyer, while the seller was represented by Filip Niculete, Glen Scher, and Jonathan Erster from the LAAA Team at Marcus & Millichap.

This was an all-cash transaction with a quick close. The buyer utilized a 1031 exchange, and the closing numbers indicate a 3.76% capitalization rate and a 16.63 gross rent multiplier. According to CoStar, this sale set records for the highest price per unit and highest price per square foot ever achieved for a multifamily property sale in Studio City built before 2005.

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Deals
  • Location
    4077 Tujunga Avenue, Studio City, CA 91604, USA4077 Tujunga Avenue, Studio City, CA 91604, USA
  • Sale Price
    $7,925,000$7,925,000
    $552 PPSF$552 PPSF
  • Area
    14,342 SF14,342 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    5 Brokers, 2 Agencies5 Brokers, 2 Agencies

Agents

Brent Gibeaut

Brent Gibeaut

Deals1
Sold$7.9M

Glen Scher

Glen Scher

Deals161
Sold$624.5M

Agencies

Keller Williams

Keller Williams

Agency
Deals1205
Volume$6B

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Glen Scher, Brent Gibeaut, Filip Niculete, Martin Ensbury & Jonathan Erster DATE: 09/02/2021 ADDRESS: 4077-4083 Tujunga Ave. MARKET: San Fernando Valley ASSET TYPE: Multifamily BUYER: Kenneth Noble SELLER: Andrew Daley BUYER’S REP: Martin Ensbury - KW & Brent Gibeaut - ML Commercial Properties Inc. SELLER’S REP: Filip Niculete, Glen Scher & Jonathan Erster (LAAA Team) (@LAAATeam) - Marcus & Millichap SALE PRICE: $7,925,000 UNITS: 16 ~ PPU: $495.312 SF: 14,342 ~ PPSF: $552 NOTE: All Cash & Quick Close 1031 Exchange Buyer Closing Numbers: $495,313 per Unit. $552.57 per SqFt 3.76% CAP. 16.63 GRM Record Sale per CoStar: Highest Price per Unit Ever for a Multifamily Sale in Studio City Built before 2005 Highest Price per SqFt Ever for a Multifamily Sale in Studio City

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4077-4083 Tujunga Avenue

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