Steven Loo Acquires Office Building In Northridge For $13.8M
SOLD
$13,775,000
+ 3
California
See Similar DealsOffice39,849 SF
Sold
SOLD
Steven Loo Acquires Office Building In Northridge For $13.8M
9535 Reseda Boulevard, Northridge, California 91324, United States
See Similar DealsOffice39,849 SF
Sold
+ 3
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$345
Total Square Footage:39849 SF
Transaction Type:Sale
An office building located at 9535 Reseda Blvd. in Northridge has been sold for $13,775,000. The property spans across 39,849 square feet, resulting in a price per square foot of $345.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $13,775,000
- Address: 9535 Reseda Blvd.
- Market: Northridge
- Square Footage: 39,849
The buyer, Steven Loo, acquired the property from Adrian Stern. Representing the buyer was Mitch Yankowitz, Jeffrey Cunningham, and Annie Cunningham from Medical Asset Management. On the seller's side, Martin Agnew, Ryan R. Serling, and Mike Malick from the Agnew-Serling Group at Marcus & Millichap facilitated the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$734,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,939.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,300.53
Annual Debt Service$783,606.33
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