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Harout Mkrtchian Acquires Retail Property In North Hollywood For $1.75M

Property Image
SOLD
$1,795,000
Sayeh Foroutan
Elizabeth Clark
HM

California

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Retail4,991 SF
Sold 04/26/2021
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Property Image
SOLD

Harout Mkrtchian Acquires Retail Property In North Hollywood For $1.75M

10623 Burbank Blvd, North Hollywood, CA, USA

See Similar Deals
Retail4,991 SF
Sold 04/26/2021
Sayeh Foroutan
Elizabeth Clark
HM
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$359
Total Square Footage:4,991 SF
Transaction Type:Sale

10649-10651 Burbank Blvd in North Hollywood has been sold in a recent transaction. The retail property, with a total area of 3,313 square feet, was sold for a price of $1,750,000, resulting in a price per square foot of $528. The sale took place on November 1, 2022. The buyer of the property is Harout Mkrtchian, while the seller is Caran Ebert.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,750,000
  • Address: 10649-10651 Burbank Blvd
  • Market: North Hollywood

The transaction was facilitated by the brokers Matthew Luchs and Brandon Michaels from Marcus & Millichap.

Players

Sayeh Foroutan
Compass
Sayeh Foroutan
10 deals$17.2M volume
BROKER
Elizabeth Clark
Kidder Mathews
Elizabeth Clark
58 deals$181.6M volume(310) 740-7283
BROKER
Douglas Elliman
Douglas Elliman
BROKERAGE
HM
Harout Mkrtchian
2 deals$3.5M volume
BUYER

Details

SOLD
IMAGE: Matthew Luchs & Brandon Michaels DATE: 11/01/2022 ADDRESS: 10649-10651 Burbank Blvd MARKET: North Hollywood ASSET TYPE: Retail BUYER: Harout Mkrtchian SELLER: Caran Ebert BROKERS: Matthew Luchs (@MatthewLuchs) & Brandon Michaels (@BrandonMichaelsGroup) - Marcus & Millichap (@MarcusMillichapLosAngeles) SALE PRICE: $1,750,000 SF: 3,313 ~ PPSF: $528

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,377.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,509.22
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