Maggie Cervantes Acquires Sherman Way Office Building In Reseda For $5.5M
18700-18704 Sherman Way, Reseda, Ca 91335
$5,500,000
$247/SF
Building Size
22,248 SF
Asset Type
Office
Closing
Feb 28, 2023
AI
The recently closed property transaction in Reseda involved an office building located at 18700-18704 Sherman Way. The property spans 22,248 square feet and was sold for a total price of $5,500,000, which equates to approximately $247 per square foot. The transaction took place on February 28, 2023.
Summary of transation details
- Property Type: Office
- Transaction Amount: $5,500,000
- Address: 18700-18704 Sherman Way, Reseda
- Market: Reseda
- Buyer: Maggie Cervantes
- Seller: Geoffrey Lands
- BROKERS: Jay Martinez - Kidder Mathews; Elizabeth Clark - Douglas Elliman
Maggie Cervantes served as the buyer in this transaction, while Geoffrey Lands acted as the seller. The deal was facilitated by two brokers, Jay Martinez from Kidder Mathews and Elizabeth Clark from Douglas Elliman.
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93