Updated Dec 4, 2024
Sean Rad Buys Industrial Property From Stuart Eigler In Van Nuys For $6.69M
14701 Oxnard Street & 14721 Oxnard Street
$6,690,000
$135/SF
Building Size
24,768 SF
Asset Type
Industrial
Closing
Feb 15, 2024
About this deal
AI
The property at 14701-14721 Oxnard Street in Van Nuys, California, is a multi-tenant, two-building 24,768-square-foot warehouse situated on 0.99 acres of land. The sale price for this industrial asset was $6,690,000, reflecting a price per square foot of $270.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,690,000
- Buyer: Sean Rad
- Seller: Stuart Eigler - Eigler Management
- Brokers: Ari Greene & Adam Abushagur - Marcus & Millichap
The sale of 14701-14721 ½ Oxnard Street was facilitated by Marcus & Millichap. The buyer, Sean Rad, acquired the property with the assistance of Ari Greene and Adam Abushagur. Despite challenges posed by the Mansion Tax, negotiating split fees between the buyer and seller allowed for a successful transaction close to the original asking price.
On the Map
$6,690,000
$135/SF
Industrial
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Players
Van Nuys Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93