JP Burnet Purchases Property From Burnet Investments For $3.6 Million With Andrew Berk And Mark Evanoff As Representatives
7727 Burnet Ave, Los Angeles, CA, 91...
$3,600,000
Building Size
—
Asset Type
Industrial
Closing
Jan 11, 2019
AI
The property involved in this transaction is an industrial warehouse facility located at 7727 Burnet Ave in the Van Nuys neighborhood of Los Angeles. The sale price for the property was $3,600,000. The warehouse includes 16,230 square feet of space and features an office space build-out, 32 parking stalls, a gated lot, 16-foot clear heights, and two ground-level roll-up doors. California Contractors Supplies has occupied the warehouse since the late 1970s.
Summary of transaction details:
- Property Type: Industrial Warehouse
- Transaction Amount: $3,600,000.00
- Address: 7727 Burnet Ave, Los Angeles, CA
- Market: Van Nuys
- Buyer: JP Burnet
- Seller: Burnet Investments
- Buyer's Representative: Andrew Berk - Avison Young
- Seller's Representative: Mark Evanoff - Avison Young
In this transaction, Andrew Berk and Mark Evanoff of Avison Young represented the seller, Burnet Investments, while Andrew Berk also represented the buyer, JP Burnet. This sale marks a significant transition of ownership for the warehouse property.
Players
Van Nuys 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93