Updated Dec 21, 2023
Tamar Kurkjian Acquires Retail Property In Burbank For $1.28M
2300 West Olive Avenue, Burbank, CA 91506
$1,280,000
$704/SF
Building Size
1,816 SF
Asset Type
Retail
Closing
May 17, 2021
About this deal
AI
2300 W Olive Avenue in Burbank has been sold in a retail transaction. The property measures 1,816 square feet and is located at 2300 W Olive Avenue, Burbank.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,280,000
- Date: 05/18/2021
- Market: Burbank
- Buyer: Tamar Kurkjian
- Seller: Lisa Danchick
- Brokers: Ethan Donel (@EthanDonel), Alex Reyhan (@Ry__All), and Daniel Hirth (@DHirth5 irthGroup)
- Asking Price: $1,350,000
- SF: 1,816
- PPSF: $704
Ethan Donel, Alex Reyhan, and Daniel Hirth of The Hirth Group successfully marketed the property after it had been on the market for a year with no offers. Within two weeks of their marketing efforts, they were able to generate multiple offers and secure a cash buyer who closed the deal in just three weeks.
Players
Burbank 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
12.39%
Cash-on-Cash
-3.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93