David Foruzanfar Acquires Multi-Tenant Industrial Property In Chatsworth For $8M
20371 Prairie Street, Chatsworth, CA 91311, USA
$8,000,000
$202/SF
Building Size
39,500 SF
Asset Type
Industrial
Closing
Feb 25, 2020
AI
An off-market multi-tenant industrial property in Chatsworth has been sold for $8,000,000. Located at 20361-20371 Prairie Street, the property spans across 39,500 square feet and consists of 22 units. The price per square foot was $202.53, with a per unit price of $363,636. The transaction took place on February 26, 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,000,000
- Address: 20361-20371 Prairie Street
- Market: Chatsworth
- Square Footage: 39,500
- Price per Square Foot: $202.53
- Number of Units: 22
- Price per Unit: $363,636
The buyer of the property was David Foruzanfar, while Richard Raczuk served as the seller. The transaction was facilitated by Bentley McKean, James DeBuiser, and Gary Cohen from Marcus & Millichap Ventura. Notably, these representatives worked on behalf of both the buyer and the seller, making this a unique deal. The transaction reached a mid 3% cap rate and was completed on an off-market basis.
Players
Chatsworth 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93