Rabbi Shmuly Acquires Mixed-Use Property In Burbank For $5.7M
SOLD
$5,700,000
California
See Similar DealsMixed-use11,362 SF
Sold 07/01/2022
SOLD
Rabbi Shmuly Acquires Mixed-Use Property In Burbank For $5.7M
2601 West Magnolia Boulevard
See Similar DealsMixed-use11,362 SF
Sold 07/01/2022
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$501
Total Square Footage:11,362 SF
Transaction Type:Sale
The mixed-use property located at 2601 W. Magnolia Blvd. in Burbank has been sold in a transaction that closed on July 1, 2022. The property spans a total area of 11,362 square feet and includes a variety of uses. The sale price for this property was $5,700,000, resulting in a price per square foot of $501.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $5,700,000
- Market: Burbank
- Buyer: Rabbi Shmuly
- Seller: Fami Topper
- Brokers: Jake Zacuto, Leor Binshtock - Zacuto Group
The buyer in this transaction is Rabbi Shmuly, while Fami Topper is the seller. Representing the buyer and seller respectively are Jake Zacuto and Leor Binshtock from the Zacuto Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90
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