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The Rodin Group Acquires Industrial Property In Burbank For $2.145M

Property Image
SOLD
$2,145,000

California

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Industrial5,905 SF
Sold 04/07/2021
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Property Image
SOLD

The Rodin Group Acquires Industrial Property In Burbank For $2.145M

425 S Flower St, Burbank, CA, USA

See Similar Deals
Industrial5,905 SF
Sold 04/07/2021
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$363
Total Square Footage:5,905 SF
Transaction Type:Sale

425 S. Flower St. in Burbank has been sold in a recent industrial property transaction. The property, spanning a total of 5,905 square feet, was purchased by The Rodin Group at a sale price of $2,145,000. The buyer was represented by Blas Fernandez, while the seller, Lilit Khatchaturian, was represented by Steve Hampar.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $2,145,000
  • Address: 425 S. Flower St.
  • Market: Burbank

This deal showcased The Rodin Group as the buyer, with their representative being Blas Fernandez. On the other side, Lilit Khatchaturian acted as the seller, with Steve Hampar serving as her representative. The property was sold at a slightly higher price than the initial asking price, going for a final amount of $2,145,000. With a price per square foot of $363, this industrial asset presented a valuable investment opportunity in the Burbank market.

Players

Blas Fernandez
33 deals$88.5M volume(818) 319-9191
BROKER

Stephen (Steve) Hampar
3 deals$22.1M volume
BROKER

Keller Williams Realty
BROKERAGE

Details

SOLD
IMAGE: Blas Fernandez DATE: 04/07/2021 ADDRESS: 425 S. Flower St. MARKET: Burbank ASSET TYPE: Industrial BUYER: The Rodin Group SELLER: Lilit Khatchaturian BUYER’S REP: Blas Fernandez SELLER’S REP: Steve Hampar ASKING PRICE: $2,045,000 SALE PRICE: $2,145,000 SF: 5,905 ~ PPSF: $363

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

$114,400.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,620.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,168.39
Annual Debt Service$122,020.73