Matevosian Investment Group Procures Burbank Industrial Warehouse Deal For $1.45M
2908 North Naomi Street, Burbank, CA 91504
$1,450,000
$329/SF
Building Size
4,400 SF
Asset Type
Industrial
Closing
Jun 25, 2020
AI
A warehouse located at 2908 N. Naomi St. in Burbank has recently been sold for a price of $1,450,000. The industrial property spans across 4,400 square feet, resulting in a price per square foot of $329. This deal was facilitated by KW Commercial, who acted as the broker in the transaction.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,450,000
- Date: 06/25/2021
- Address: 2908 N. Naomi St.
- Market: Burbank
Matevosian Investment Group was able to secure this warehouse deal at $329 per square foot in Burbank, at a time when similar properties are trading for $400-$500 per square foot. Their ability to source deals, leverage connections, and utilize resources has proven instrumental in securing exceptional deals for their clients. Matevosian Investment Group takes a proactive approach to finding deals, rather than waiting for opportunities to come their way.
Players
Burbank Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.94%
Cash-on-Cash
-3.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93