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71 14 Myrtle Avenue

A Mixed-use Property Sold For $2.2M In Glendale
SOLDMixed-use

A Mixed-use Property Sold For $2.2M In Glendale

71 14 Myrtle Avenue & 71 16 Myrtle Avenue

$2,200,000

$178/SF

Building Size

6,150 SF

Asset Type

Mixed-use

Closing

Jan 11, 2025

AI

The property involved in this transaction is a mixed-use asset located at 71-14 Myrtle Avenue & 71-16 Myrtle Avenue in Glendale. The sale price was $2,200,000, with a total square footage of 6,150, which translates to a price per square foot of $357.

Summary of transaction details:

The transaction was represented by brokers Christopher Pesce and Kenneth Hester from Douglas Elliman, handling the sale for the seller, John Rafferty. Their roles were pivotal in facilitating this closed property transaction in Glendale.

Players

Christopher Pesce

Douglas Elliman

Broker

$15.1M

vol

7 deals

Broker

Glendale Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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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