Elevado Group Acquires Development Site In Van Nuys For $5.5M
SOLD
$5,525,000
California
See Similar DealsDevelopment Site37 SF
Sold 08/11/2022
SOLD
Elevado Group Acquires Development Site In Van Nuys For $5.5M
6314 Woodman Avenue, Van Nuys, California 91401, United States
See Similar DealsDevelopment Site37 SF
Sold 08/11/2022
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$149,324
Total Square Footage:37 SF
Transaction Type:Sale
6314, 6324 & 6330 Woodman Ave in Van Nuys, CA were sold for $5,525,000 in a recent transaction. The property, a development site, spans a total of 37,613 square feet, with a price per square foot of $147. The sale was facilitated by brokers Iman Mossanen and Neema Ahadian of Marcus & Millichap.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,525,000
- Address: 6314, 6324 & 6330 Woodman Ave, Van Nuys, CA
- Market: Van Nuys, CA
- Buyer: Elevado Group
- Seller: Constance Family Trust
- Brokers: Iman Mossanen & Neema Ahadian - Marcus & Millichap
Elevado Group acquired the development site from Constance Family Trust. Iman Mossanen and Neema Ahadian of Marcus & Millichap represented the buyer in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$294,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,629.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,191.32
Annual Debt Service$314,295.82
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