Harout Mkrtchian Acquires Retail Property In North Hollywood For $1.75M
10623 Burbank Blvd, North Hollywood, CA, USA
$1,795,000
$359/SF
Building Size
4,991 SF
Asset Type
Retail
Closing
Apr 25, 2021
AI
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
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.84%
Cash-on-Cash
-2.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93