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7157 Foothill Boulevard, Tu...

Gary Kasabyan & David Tovmasyan Acquire Retail Property On Foothill Blvd In Tujunga For $2.2M
SOLDRetail

Gary Kasabyan & David Tovmasyan Acquire Retail Property On Foothill Blvd In Tujunga For $2.2M

7157 Foothill Boulevard, Tujunga, CA 91042, USA

$2,200,000

$452/SF

Building Size

4,864 SF

Asset Type

Retail

Closing

Dec 1, 2021

AI

Located in Tujunga, the retail property at 7157, 7161 & 7165 Foothill Blvd. has been sold in a recent transaction. The property spans a total of 4,864 square feet and was sold for a price of $2,200,000, resulting in a price per square foot of $452. The transaction took place on December 1, 2021.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,200,000
  • Address: 7157, 7161 & 7165 Foothill Blvd.
  • Market: Tujunga

The buyer of the property is Gary Kasabyan & David Tovmasyan, while the seller is Dave Morelli. The deal was facilitated by Blas Fernandez from Blas Property Group, who represented both parties.

Players

Blas Fernandez

IKON Properties

Broker

$93.8M

vol

34 deals

Broker
Keller Williams Realty
Keller Williams RealtyBrokerage

Gary Kasabyan

Buyer

$9.4M

vol

3 deals

Buyer

Los Angeles Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93