facebook
Traded Co logo
Submit

Raffi Kryszek Sells Office Building In Los Angeles For $3.84M

Property Image
SOLD
$3,840,000

California

See Similar Deals
Office6,295 SF
Sold 05/28/2020
the dealplayerscompscontact
Property Image
SOLD

Raffi Kryszek Sells Office Building In Los Angeles For $3.84M

8535 Venice Boulevard, Los Angeles, CA 90034

See Similar Deals
Office6,295 SF
Sold 05/28/2020
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$610
Total Square Footage:6,295 SF
Transaction Type:Sale

Raffi Kryszek recently sold an office property located at 8535 Venice Blvd in Los Angeles. The property was listed for $3,995,000 and was ultimately sold for $3,840,000. The office space spans 6,295 square feet, resulting in a price per square foot of $610.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,840,000
  • Address: 8535 Venice Blvd, Los Angeles
  • Market: Los Angeles

The buyer in this transaction was represented by Howard Reback from Reback Realty Inc. Steve Ravan and Julie Meggat, both from South Park Group Inc., acted as the seller's representatives. It's worth noting that South Park Group received multiple offers for the property and decided to proceed with an owner user buyer who was pre-qualified for a loan. The buyer intends to occupy the office space for their own business.

A special thanks goes to the team at Capital Trust Escrow, including Hami Gabayan and Emi Diaz, as well as Cheryl Yanez from Chicago Title Company, for their hard work in facilitating a timely closing of the escrow.

For owner user and investment opportunities in the Los Angeles area, interested parties can reach out to Steve Ravan and Julie Meggat at South Park Group.

Players

Steve Ravan
17 deals$83M volume
BROKER

Julie Meggat
South Park Group
6 deals$32.8M volume
BROKER

Howard Reback
1 deal$3.8M volume
BROKER

Details

SOLD
IMAGE: Julie Meggat, Steve Ravan, Raffi Kryszek & Howard Reback DATE: 05/28/2021 ADDRESS: 8535 Venice Blvd MARKET: Los Angeles ASSET TYPE: Office SELLER: Raffi Kryszek BUYER’S REP: Howard Reback - Reback Realty Inc. SELLER’S REP: Steve Ravan & Julie Meggat - South Park Group Inc. ASKING PRICE: $3,995,000 SALE PRICE: $3,840,000 SF: 6,295 ~ PPSF: $610 NOTE: Julie Meggat and Steve Ravan of South Park Group represented the Seller and Howard Reback of Reback Realty represented the Buyer. South Park Group received multiple offers on the property and went with an owner user Buyer who was pre-qualified to obtain a loan on the transaction. Buyer will occupy the property for their business. A thank you to the team at Capital Trust Escrow (Hami Gabayan and Emi Diaz - @capital_trust_escrow) and Chicago Title Company (Cheryl Yanez) for their hard work in getting this escrow closed in a timely manner. Contact Steve Ravan (@steveravan) and Julie Meggat (@juliemeggatrealestate) for owner user and investment opportunities in the Los Angeles area.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$204,799.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,642.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,203.56
Annual Debt Service$218,442.71