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Concord Capital Partners Acquires Multifamily Property In Franklin Canyon For $8.5M

5870 Franklin Avenue
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This MultiFamily property located in CA was sold for $8,512,500 about 2 years ago. The brokers of the deal were Zachary "Zach" Rosen, Michael Kamara, Richard Ringer, and Michael Sterman

A multifamily property located at 5870 Franklin Ave. in Franklin Canyon has been sold in a recent transaction. The property consists of 38 units and spans 29,440 square feet. The sale price for the property was $8,512,500, resulting in a price per unit of $224,013 and a price per square foot of $289.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,512,500
  • Address: 5870 Franklin Ave.
  • Market: Franklin Canyon
  • Buyer: Concord Capital Partners - Reuben Robin
  • Seller: Richard Kotler
  • Brokers: Michael Kamara, Michael Sterman, Richard Ringer, and Zach Rosen - Ringer Group
  • Units: 38
  • Price per Unit: $224,013
  • Square Footage: 29,440
  • Price per Square Foot: $289

The buyer of the property is Concord Capital Partners represented by Reuben Robin. The seller is Richard Kotler. The Ringer Group, including brokers Michael Kamara, Michael Sterman, Richard Ringer, and Zach Rosen, facilitated the transaction.

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Deals
  • Location
    5870 Franklin Avenue, Los Angeles, California 90028, United States5870 Franklin Avenue, Los Angeles, California 90028, United States
  • Sale Price
    $8,512,500$8,512,500
    $289 PPSF$289 PPSF
  • Area
    29,440 SF29,440 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Zachary "Zach" Rosen

Zachary "Zach" Rosen

Deals1
Sold$8.5M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Richard Ringer, Michael Sterman, Reuben Robin, Michael Kamara & Zach Rosen DATE: 01/14/2022 ADDRESS: 5870 Franklin Ave. MARKET: Franklin Canyon ASSET TYPE: Multifamily BUYER: Concord Capital Partners (@Concord_RES) - Reuben Robin (@ReubenRobin) SELLER: Richard Kotler BROKERS: Michael Kamara (@MDKamara), Michael Sterman (@MikeyLikezIt), Richard Ringer & Zach Rosen (@Mr.ZRo1) - Ringer Group (@RingerGroup) SALE PRICE: $8,512,500 UNITS: 38 ~ PPU: $224,013 SF: 29,440 ~ PPSF: $289

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5870 Franklin Avenue

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