Jeremy Okhtanian Acquires Multifamily Property In Burbank For $2.9M
SOLD
$2,900,000
California
See Similar DealsMultiFamily6,646 SF
Sold 02/01/2024
SOLD
Jeremy Okhtanian Acquires Multifamily Property In Burbank For $2.9M
328 East Tujunga Avenue
See Similar DealsMultiFamily6,646 SF
Sold 02/01/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$436
Total Square Footage:6,646 SF
Transaction Type:Sale
The multifamily property located at 328 East Tujunga Avenue in Burbank was successfully sold for $2,900,000. This property consists of 8 units, with a total square footage of 6,646. The price per unit was $362,500, and the price per square foot was $436.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Units: 8
- Price Per Unit: $362,500
- Square Footage: 6,646
- Price Per Square Foot: $436
- Address: 328 East Tujunga Avenue
- Market: Burbank
Jeremy Okhtanian acquired the property from Edmond Bernstein of The Burbank RE Group. The transaction was facilitated by Tadeh Minassian and Steve Kechichian of Signature Commercial Partners, representing the buyer and seller respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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