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Loyal Moving Company Acquires Industrial Property In San Fernando Valley For $1.1M

Property Image
SOLD
$1,135,000

California

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Industrial2,440 SF
Sold 07/02/2020
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Property Image
SOLD

Loyal Moving Company Acquires Industrial Property In San Fernando Valley For $1.1M

3321 Burton Ave, Burbank, CA 91504, USA

See Similar Deals
Industrial2,440 SF
Sold 07/02/2020
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$465
Total Square Footage:2,440 SF
Transaction Type:Sale

Located in San Fernando Valley, the industrial property at 3321 Burton Ave has recently been sold. The transaction took place on July 2, 2020, with a sale price of $1,135,000. The property spans a total area of 2,440 square feet, amounting to a price per square foot of $465.16. This transaction was successfully completed despite the challenging circumstances posed by the COVID-19 pandemic.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $1,135,000
  • Address: 3321 Burton Ave
  • Market: San Fernando Valley
  • Square Footage: 2,440
  • Price per Square Foot: $465.16
  • Buyer: @LoyalMoving Company
  • Broker: Alex Matevosian @Matevosian_CRE

Alex Matevosian, representing Matevosian_CRE, facilitated the transaction as the broker. Despite the challenges posed by the pandemic, the sale was successfully completed, showcasing resilience and adaptability in the real estate market.

Players

Alex Matevosian
8 deals$12.6M volume
BROKER

JohnHart Real Estate
BROKERAGE

Details

SOLD
IMAGE: IMAGE: Alex Matevosian DATE: 07/02/2020 ADDRESS: 3321 Burton Ave MARKET: San Fernando Valley ASSET TYPE: Industrial PRICE: $1,135,000 SF: 2,440 PPSF: $465.16 BUYER: @LoyalMoving Company BROKER: Alex Matevosian @Matevosian_CRE NOTES: Opened and closed escrow in pandemic.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$60,533.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,032.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,380.48
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