The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





MULTIFAMILY NEWS
Printer-friendly Version   Email an Associate
San Fernando Valley Apartment Comp Comes in at $143k/Unit

6/30/15

In a recent LA-area apartment comp, a 15-unit multifamily property in North Hollywood sold for $2.15 mil, or about $143k/unit. The property is located at 6935 Hinds Ave, east of the 170 Fwy and south of Sherman Way.

Constructed in 1963, the property is subject to Los Angeles rent control. It contains two one-bedroom/one-bath units, 11 two-bedroom/one-and-a-half bath units, and two three-bedroom/one-bath units.

The sale works out to $163/sf. Based on in-place income, the property sold at an 11.08 GRM and 4.92% CAP Rate.

Rick Raymundo, a First Vice President/Investments in the Los Angeles office of Marcus & Millichap, represented the seller, a private LLC. "We represented this seller when he originally purchased the property in 2012," states Raymundo. "Selling it now for $2,150,000 after we secured the property for him at $1,470,000 just three years ago translates to a pretty healthy value appreciation of almost 50%."





Return to the Archive page
 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media