John Akhoian Acquires Development Site In Toluca Lake For $1.5M

A 14 Unit RTI Development Site in Toluca Lake has been sold at the list price of $1,525,000. The property is located at 4433 Cartwright Ave and is situated in the Toluca Lake market. The buyer of the property is John Akhoian, while the seller is Ben Javaheri. The transaction was facilitated by Filip Niculete, Glen Scher, Sam Liberow, and Max Gersht of the LAAA Team from Marcus & Millichap. The deal was closed on 10/06/2021.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $1,525,000
• Address: 4433 Cartwright Ave
• Market: Toluca Lake
• Buyer: John Akhoian
• Seller: Ben Javaheri
• Broker: Filip Niculete, Glen Scher, Sam Liberow, and Max Gersht (LAAA Team) - Marcus & Millichap

The sale included a Building Square Footage (BSF) of 12,798, resulting in a price per buildable unit of $108,929. The price per square foot for the land was $234.62. The deal generated multiple offers and was sold at the list price, indicating strong market interest in the property.