Updated Dec 4, 2024
Jeremy Okhtanian Acquires Multifamily Property In Burbank For $2.9M
328 East Tujunga Avenue
$2,900,000
$436/SF
Building Size
6,646 SF
Asset Type
MultiFamily
Closing
Feb 1, 2024
About this deal
AI
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.
On the Map
$2,900,000
$436/SF
MultiFamily
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Players
Burbank MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93