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Steven Oppenheim & Elisa Schoenfeld Acquire Multifamily Asset In North Hollywood For $5.675M

5541 Fulcher Avenue
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This MultiFamily property located in CA was sold for $5,675,000 almost 2 years ago. The brokers of the deal were Sam Liberow, Max Gersht, Glen Scher, and Filip (Fil) Niculete

Located in North Hollywood, the multifamily property at 5541 Fulcher Ave has been sold in a closed transaction. The property was developed in 1990 by the seller, Evan E. Levi & Frank Moll, and has never been sold before. This sale marks the first time the property has changed hands since its development.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,675,000
  • Address: 5541 Fulcher Ave
  • Market: North Hollywood

The property consists of 15 units, with a price per unit of $378,333. It spans across 16,086 square feet, translating to a price per square foot of $352. The sale was closed at a 4.03% capitalization rate and a gross rent multiplier of 15.47x.

The buyers, Steven Oppenheim & Elisa Schoenfeld, were represented by Sam Liberow & Max Gersht from The Liberow Group at Marcus & Millichap. On the other hand, the sellers, Evan E. Levi & Frank Moll, were represented by Glen Scher & Filip Niculete from the LAAA Team at Marcus & Millichap. The financing for the transaction was facilitated by MMCC's Sharone Sabar.

Despite the property being sold with a non-conforming unit, two vacancies, and tenants who were delinquent due to COVID, the sale successfully closed at the aforementioned price of $5,675,000. This transaction demonstrates the strong teamwork of the Marcus & Millichap teams involved.

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Deals
  • Location
    5541 Fulcher Avenue, North Hollywood, California 91601, United States5541 Fulcher Avenue, North Hollywood, California 91601, United States
  • Sale Price
    $5,675,000$5,675,000
    $352 PPSF$352 PPSF
  • Area
    16,086 SF16,086 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

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: Glen Scher, Filip Niculete, Sam Liberow & Max Gersht DATE: 04/28/2022 ADDRESS: 5541 Fulcher Ave. MARKET: North Hollywood ASSET TYPE: Multifamily BUYER: Steven Oppenheim & Elisa Schoenfeld SELLER: Evan E. Levi & Frank Moll BUYER’S REP: Sam Liberow (@Sam_Liberow) & Max Gersht (@Maximillian_Realty) (The Liberow Group) (@TheLiberowGroup) - Marcus & Millichap SELLER’S REP: Glen Scher (@ScherGlen) & Filip Niculete (@FNiculete) (LAAA Team) (@LAAATeam) - Marcus & Millichap SALE PRICE: $5,675,000 UNITS: 15 ~ PPU: $378,333 SF: 16,086 ~ PPSF: $352 GRM: 15.47x CAP: 4.03% NOTE FROM BROKER: First Time Property Has Ever Sold Seller Developed the Property in 1990 Sold w/ Non-Conforming Unit, 2 Vacancies, & COVID Delinquent Tenants Great Marcus & Millichap Teamwork The LAAA Team - Seller The Liberow Group - Buyer MMCC's Sharone Sabar - Financing Closed at $5,675,000 $378,333 per Unit $352.79 per SqFt 4.03% CAP Rate 15.47 GRM

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