Barak Amar Acquires Retail Property From Michael Orwitz In Tarzana For $2.15M
18635 Ventura Boulevard & 18639 Ventura Boulevard
$2,150,000
$327/SF
Building Size
6,572 SF
Asset Type
Retail
Closing
Jul 12, 2024
AI
The property involved in the transaction is a retail asset located at 18635-18639 Ventura Boulevard in the Tarzana market. The sale price was $2,150,000, and the property encompasses 3,286 square feet, translating to a price per square foot of $654. At the time of sale, the property was 50% occupied, with the buyer planning to occupy the vacant unit.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,150,000
- Square Footage: 3,286
- Price per Square Foot: $654
- Buyer: Barak Amar
- Seller: Michael Orwitz
- Broker Representatives: Martin Agnew, Ryan Rothstein-Serling, Joshua Yaris & Hannah Zager - Agnew | Serling Group - Marcus & Millichap
The deal involved multiple brokers representing both the buyer and the seller, showcasing collaboration within the Agnew | Serling Group at Marcus & Millichap. The presence of a fully occupied unit indicates potential for immediate operational cash flow, while the buyer's intent to occupy adds a layer of engagement with the property.
Players
Tarzana 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
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93