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18635 Ventura Boulevard

Barak Amar Acquires Retail Property From Michael Orwitz In Tarzana For $2.15M
SOLDRetail

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:

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

Martin Agnew

Marcus & Millichap

Broker

$450M

vol

123 deals

Broker

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