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Michael Tootikian & Tony Boyajian Facilitate $7.08M Sale In Tarzana Multifamily Deal

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SOLD
$7,075,000

California

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MultiFamily25,718 SF
Sold 04/08/2024
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Property Image
SOLD

Michael Tootikian & Tony Boyajian Facilitate $7.08M Sale In Tarzana Multifamily Deal

6225 Reseda Boulevard

See Similar Deals
MultiFamily25,718 SF
Sold 04/08/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$275
Total Square Footage:25,718 SF
Transaction Type:Sale

6225 Reseda Boulevard in Tarzana, a multifamily property spanning 0.74 acres, was sold for $7,075,000. The property boasts 25,718 square feet and was transacted at a rate of $275 per square foot.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,075,000
  • Address: 6225 Reseda Boulevard
  • Market: Tarzana
  • Asset Type: Multifamily
  • Acres: 0.74

Keller Williams brokers Michael Tootikian and Tony Boyajian were the key figures behind the successful transaction.

Players

Michael Tootikian
5 deals$34.5M volume
BROKER

Tony Boyajian
Keller Williams Realty
4 deals$28.9M volume
BROKER

Details

SOLD
IMAGE: Michael Tootikian & Tony Boyajian DATE: 04/08/2024 ADDRESS: 6225 Reseda Boulevard MARKET: Tarzana ASSET TYPE: Multifamily ~ ACRES: 0.74 BROKERS: Michael Tootikian & Tony Boyajian (@Aboyaji) - Keller Williams (@KellerWilliamsRealty) SALE PRICE: $7,075,000 SF: 25,718 ~ PPSF: $275 NOTE: 6225 Reseda Boulevard in Tarzana, a multifamily property spanning 0.74 acres, was sold for $7,075,000. Keller Williams brokers Michael Tootikian and Tony Boyajian facilitated the transaction for the 25,718 square foot asset, which sold at a rate of $275 per square foot.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$377,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$25,135.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,539.11
Annual Debt Service$402,469.31