Just Closed: 8 Units | Northridge, CA

Details

  • Price: 2,305,000
  • Cap Rate: 4.01.%
  • GRM: 15.26
  • Cost per SF: $285.91
  • Cost per unit: $288,125
  • Year Built: 1988
  • Square Footage: 8,062
  • Lot Size: 7,783 SF
  • Units: 8
  • No. Stories: 2
  • Parking: 16
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: LAR3
  • Building Class: C
  • APN/Parcel ID: 2769-022-031

Just Closed: Linterna Townhomes | Northridge, CA

Invest In Results | Grow Your Legacy

 

Agents: Raymond A. Rodriguez | Mathew Freedman

Team: Lucrum Real Estate Group

 

Highlights:

+ Sold at 95% of List Price

+ Multiple Offers

+ 1031 Exchange Up-Leg & Down-Leg

+ Represented Seller & Buyer

+ Helped Buyer Secure Excellent Financing

+ Value-Added Investment Opportunity

+ AB 1482: 5% + CPI Rental Increases

+ Prime Northridge Near CSUN

 

Congratulations to our valued clients on our latest closing of Linterna Townhomes, an 8-unit garden-style luxury townhome multifamily investment property located at 8810 Etiwanda Avenue. We represented both the Seller and Buyer in this transaction and assisted each of them with their 1031 Exchange needs while working within their required timelines for closing.

The Seller, a Lucrum Legacy Client, whom we also represented back when he purchased the building contacted us to value, list, and market the property for sale. His motivation to sell was to proceed with plans to 1031 exchange into another opportunity.

We developed a marketing campaign that highlighted the investment’s value-add and rental upside potential and shared a custom website with interested parties that included marketing assets such as drone work, photography, video tour, 3D virtual tour and offering memorandum. Through this process we were able to attract the best buyers for the property and generate multiple offers for our client’s consideration to guarantee him the best price and buyer for the property.

The Buyer discovered the property on one of several MLS listing platforms we utilize. His motivation to buy was to complete his 1031 Exchange and Linterna Townhomes fulfilled his investment criteria. He requested that we represent him and submit an offer on his behalf to purchase the property. He then accepted the Seller’s multiple counteroffer and terms for a sale. We also helped the Buyer secure excellent financing for the acquisition, and he was able to rate lock at a fantastic interest rate just before rates began rising!

We love helping our clients accomplish their goals and improve their lives. Contact us and be a part of our next real estate success story!!!

 

By: Lucrum
March 24, 2022

Sales Team

Details

  • Price: 2,305,000
  • Cap Rate: 4.01.%
  • GRM: 15.26
  • Cost per SF: $285.91
  • Cost per unit: $288,125
  • Year Built: 1988
  • Square Footage: 8,062
  • Lot Size: 7,783 SF
  • Units: 8
  • No. Stories: 2
  • Parking: 16
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: LAR3
  • Building Class: C
  • APN/Parcel ID: 2769-022-031

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