Updated Oct 29, 2024
Gerro Properties Acquires Single Family Property In Burbank For $7.15M
507 East Cedar Avenue, Burbank, CA 91501, USA
$7,150,000
$425/SF
Building Size
16,816 SF
Asset Type
Single Family Residence
Closing
Jul 26, 2018
About this deal
AI
A single-family property located at 507 E Cedar Ave in Burbank has recently been sold for $7,150,000. The property spans over 16,816 square feet, resulting in a price per square foot of $425. This transaction involved the sale of 20 units, with a price per door of $357,500.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $7,150,000
- Address: 507 E Cedar Ave, Burbank
- Market: Burbank
- Square Footage: 16,816
- Price per Square Foot: $425
- Units: 20
- Price per Door: $357,500
The seller of the property was Smallenburg Family LLC, while Gerro Properties acted as the buyer. The transaction was facilitated by Sevak Keshishian and Andy Kawatra from @theskgroup, who represented their respective clients in the deal.
Players
Burbank Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.22%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93