Raffi Kitsinian Acquires Industrial Property In North Hollywood For $6.25M With Broker Sarkis Kitsinian

This industrial property located at 13201 Saticoy Street in North Hollywood was sold for $6,252,600. The asset encompasses two freestanding buildings with a total area of approximately 18,436 square feet situated on a 17,690 square foot lot. The front building is available for owner-user occupancy, while the rear building generates income through short-term tenants and a cell tower lease.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,252,600
• Address: 13201 Saticoy Street
• Market: North Hollywood
• Square Footage: 18,436
• Price Per Square Foot: $339
• Buyer: Raffi Kitsinian
• Seller: Nadia Shamsi
• Buyer's Representative: Sarkis Kitsinian - Franco Realty Group Inc.
• Seller's Representative: Jonathan Krikorian - IREA

The transaction was financed through an SBA loan, allowing the buyer to acquire the property with a low down payment. Notably, the rear building enhances the property's value by providing passive income through its tenant arrangements and the cell tower lease.