Brian Bak Purchases Retail Property In Van Nuys For $3.35 Million With David Nalbandyan As Buyer's Rep
SOLD
$3,350,000
California
See Similar DealsRetail7,973 SF
Sold 02/28/2025
SOLD
Brian Bak Purchases Retail Property In Van Nuys For $3.35 Million With David Nalbandyan As Buyer's Rep
6000 Woodman Avenue
See Similar DealsRetail7,973 SF
Sold 02/28/2025
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$420
Total Square Footage:7,973 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 6000 Woodman Avenue in the Van Nuys market. The sale price for this asset was $3,350,000, encompassing a total square footage of 7,973, resulting in a price per square foot of $420.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,350,000
- Square Footage: 7,973
- Price per Square Foot: $420
- Buyer: Brian Bak
- Seller: Paru Ahkverdan
- Buyer's Representative: David Nalbandyan - LA Premier Group
- Seller's Representatives: Matthew Luchs & Jacob De La Hoya - Zacuto Group
- Cap Rate: Sub 6%
This transaction involved multiple offers after the seller had previously listed the property with two other brokers who could not execute the sale. The deal notably overcame challenges such as a fire during escrow and insurance issues, all without any price renegotiation.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$178,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,901.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,880.71
Annual Debt Service$190,568.51
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