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9535 Reseda Boulevard, Nort...

Steven Loo Acquires Office Building In Northridge For $13.8M
SOLDOffice

Steven Loo Acquires Office Building In Northridge For $13.8M

9535 Reseda Boulevard, Northridge, California 91324, United States

$13,775,000

$345/SF

Building Size

39,849 SF

Asset Type

Office

Closing

Jun 7, 2022

AI

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.

Players

Martin Agnew

Marcus & Millichap

Broker

$450M

vol

123 deals

Broker

Los Angeles 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

1.15%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93