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Bart Family Trust Sells Development Site In Van Nuys For $3.3M With Buyer's Rep Jonathan Krikorian - IREA

Property Image
SOLD
$3,275,000
Jonathan Krikorian
Chris Thompson

California

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Development Site
Sold 05/08/2023
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Property Image
SOLD

Bart Family Trust Sells Development Site In Van Nuys For $3.3M With Buyer's Rep Jonathan Krikorian - IREA

14550 Delano St Van Nuys, CA 91411, USA

See Similar Deals
Development Site
Sold 05/08/2023
Jonathan Krikorian
Chris Thompson
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

Located at 14550 Delano Street in Van Nuys, this development site spans 15,006± square feet of land. The property is situated in a prime Tier 4 TOC location, offering attractive development opportunities. The transaction involved the Bart Family Trust as the seller and was represented by Chris Thompson. The buyer, represented by Jonathan Krikorian from IREA, acquired the property.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,275,000
  • Address: 14550 Delano Street
  • Market: Van Nuys

This deal not only showcases the significance of the property but also highlights the key individuals involved. Chris Thompson represented the seller, the Bart Family Trust, while Jonathan Krikorian from IREA acted as the buyer's representative.

Players

Chris Thompson
Chris Thompson
6 deals$27.1M volume
BROKER
Jonathan Krikorian
IREA
Jonathan Krikorian
10 deals$70.5M volume
BROKER

Details

SOLD
IMAGE: Chris Thompson & Jonathan Krikorian DATE: 05/08/2023 ADDRESS: 14550 Delano Street MARKET: Van Nuys ASSET TYPE: Development Site SELLER: Bart Family Trust BUYER'S REP: Jonathan Krikorian (@Jkrikorian89) - IREA (@I.R.E.A) SELLER'S REP: Chris Thompson SALE PRICE: $3,275,000 NOTE FROM BROKER: Property is 15,006± SF of land in a prime Tier 4 TOC location

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

$174,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,635.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,525.17
Annual Debt Service$186,302.05