Darin Harvey Acquires Van Nuys Industrial Property For $6.4M
SOLD
$6,400,000
California
See Similar DealsIndustrial38,120 SF
Sold 02/05/2024
SOLD
Darin Harvey Acquires Van Nuys Industrial Property For $6.4M
6955 Valjean Avenue & 16226 Hart Street
See Similar DealsIndustrial38,120 SF
Sold 02/05/2024
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$167
Total Square Footage:38,120 SF
Transaction Type:Sale
The industrial property located at 6955 Valjean Avenue & 16226 Hart Street in Van Nuys has been sold for a price of $6,400,000. The property spans across 19,060 square feet, resulting in a price per square foot of $336.
Summary of Transaction Details
- Property Type: Industrial
- Sale Price: $6,400,000
- Square Footage: 19,060
- Price Per Square Foot: $336
- Address: 6955 Valjean Avenue & 16226 Hart Street, Van Nuys
- Market: Van Nuys
The buyer of the industrial property is Darin Harvey, while Richard Brent is the seller. Grant Fulkerson, Mike Tingus, and Patrick Reddy from Lee & Associates represented Darin Harvey as his buyer's representatives in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$341,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,737.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,339.27
Annual Debt Service$364,071.18
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