Updated Dec 4, 2024
Janine & Ken Kendall Acquire Office Building In Simi Valley For $2.65M With Seller's Rep Josh Markowitz
159 Parrot Lane
$2,650,000
$330/SF
Building Size
8,021 SF
Asset Type
Office
Closing
Oct 17, 2024
About this deal
AI
The property asset involved in the transaction is an office building located at 159 Parrot Lane, Simi Valley. The asset sold for a price of $2,650,000 and has a total square footage of 8,021 square feet, which translates to a price per square foot of $330.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,650,000
- Buyer: Janine & Ken Kendall
- Seller: David & Nancy Ellis
- Seller's Representative: Josh Markowitz - Markowitz Commercial Real Estate
- Market: Simi Valley
This transaction involved Janine & Ken Kendall as the buyers, acquiring the property from David & Nancy Ellis. The sellers were represented by Josh Markowitz of Markowitz Commercial Real Estate, who noted that the property was sold to an owner-user for 96% of the asking price.
On the Map
$2,650,000
$330/SF
Office
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Simi Valley Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93