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Ara Bekmezian & Garo Bedrossian Acquire Development Site In Tujunga For $1.275M

Property Image
SOLD
$1,275,000
Raffi Soualian
Glen Scher
Andy Kawatra
+ 4

California

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Development Site24,500 SF
Sold 04/11/2022
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Property Image
SOLD

Ara Bekmezian & Garo Bedrossian Acquire Development Site In Tujunga For $1.275M

10154 Hillhaven Avenue, Sunland-Tujunga, California 91042, United States

See Similar Deals
Development Site24,500 SF
Sold 04/11/2022
Raffi Soualian
Glen Scher
Andy Kawatra
+ 4
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$52
Total Square Footage:24,500 SF
Transaction Type:Sale

A development site located at 10154 Hillhaven Ave in Tujunga has been sold. The property was acquired by Ara Bekmezian and Garo Bedrossian from Jora Karimi and Karineh Hatoomian. The sale was facilitated by Raffi Soualian and Taline Soualian of JohnHart Real Estate, representing the buyers, and Andy C. Kawatra, Filip Niculete, and Glen Scher of Marcus & Millichap, known as the LAAA Team, representing the sellers. The transaction took place on 04/11/2022.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,275,000
  • Address: 10154 Hillhaven Ave
  • Market: Tujunga

The development site has a building square footage (BSF) of 24,500, resulting in a price per building square footage (PPBSF) of $52.

Players

Filip Niculete
Marcus & Millichap
Filip Niculete
196 deals$785.1M volume
BROKER
Glen Scher
Marcus & Millichap
Glen Scher
190 deals$738.1M volume
BROKER
Andy Kawatra
Marcus & Millichap
Andy Kawatra
27 deals$83M volume
BROKER
Raffi Soualian
JohnHart Real Estate
Raffi Soualian
3 deals$7.5M volume
BROKER
GB
Garo Bedrossian
2 deals$3.4M volume
BUYER
JK
Jora Karimi
2 deals$2.4M volume
SELLER
KH
Karineh Hatoomian
2 deals$2.4M volume
SELLER

Details

SOLD
IMAGE: Glen Scher, Filip Niculete & Andy C. Kawatra, DATE: 04/11/2022 ADDRESS: 10154 Hillhaven Ave. MARKET: Tujunga ASSET TYPE: Development Site BUYER: Ara Bekmezian & Garo Bedrossian SELLER: Jora Karimi & Karineh Hatoomian BUYER’S REP: Raffi Soualian & Taline Soualian - JohnHart Real Estate SELLER’S REP: Andy C. Kawatra (@GettinSwiggyWitIt), Filip Niculete (@FNiculete) & Glen Scher (@ScherGlen) (LAAA Team) (@LAAATeam) - Marcus & Millichap SALE PRICE: $1,275,000 BSF: 24,500 ~ PPBSF: $52

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$67,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,529.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,044.15
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