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Elysian Housing And Capstone Equities Acquire Encino Office For $20.64M With Lee & Associates Brokers
SOLD
$20,640,000
California
See Similar DealsOffice74,947 SF
Sold 07/31/2025
SOLD
Elysian Housing And Capstone Equities Acquire Encino Office For $20.64M With Lee & Associates Brokers
5435 Balboa Boulevard
See Similar DealsOffice74,947 SF
Sold 07/31/2025
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$275
Total Square Footage:74,947 SF
Transaction Type:Sale
An office building located at 5435-5445 Balboa Boulevard in Encino was sold for a total of $20,640,000. This asset spans 74,947 square feet and was purchased with the intention of conversion into 117 units of affordable housing, known as The Oaks on Balboa.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,640,000
- Address: 5435-5445 Balboa Boulevard
- Market: Encino
- Square Footage: 74,947
- Price Per Square Foot: $275
- Buyer: Elysian Housing & Capstone Equities
- Seller: 5435 Balboa LLC
- Brokers: Darren Casamassima & Scott Romick - Lee & Associates
Lee & Associates’ LA North/Ventura team acted as brokers for the transaction on behalf of both Elysian Housing & Capstone Equities and 5435 Balboa LLC, facilitating the sale of the property.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,100,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,329.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,844.13
Annual Debt Service$1,174,129.56
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