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Toluca Park Place Acquires 10220 Riverside Drive Mixed-Use Asset In Toluca Lake For $2.5M

10220 Riverside Drive
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This Mixed-use property located in CA was sold for $2,475,000 over 4 years ago. The brokers of the deal were Daniel Hirth, Alex Reyhan, and Ethan Donel

A two-unit mixed-use retail/office building located at 10220 Riverside Drive in prime Toluca Lake has been sold for $2,475,000. The property spans a total of 4,456 square feet, resulting in a price per square foot of $555.43. The sale also includes two tenants and zero on-site parking. The building, fully renovated in 2017, is occupied by The Skin Agency and the accounting firm Foumberg, Juneja, Rocher & Company. This transaction marks a record-breaking price per square foot for Toluca Lake at $555.43.

Summary of transaction details

  • Asset Type: Mixed-Use
  • Date: 12/18/2019
  • Address: 10220 Riverside Drive
  • Market: Toluca Lake
  • Price: $2,475,000
  • SF: 4,456
  • Price Per SF: $555.43
  • Units: 2
  • Buyer: Toluca Park Place
  • Seller: Moliver

The successful closing of this transaction was facilitated by Daniel Hirth, Alex Reyhan, and Ethan Donel of The Hirth Group. The team represented both the buyer and seller and generated nearly a dozen offers within the first two weeks of marketing. The sale achieved a cap rate of 5.06% and a pro forma rate of 8.70%. The prime Toluca Lake submarket continues to attract strong interest from buyers and investors.

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Deals
  • Location
    10220 Riverside Drive, Toluca Lake, CA 91602, USA10220 Riverside Drive, Toluca Lake, CA 91602, USA
  • Sale Price
    $2,475,000$2,475,000
    $555 PPSF$555 PPSF
  • Area
    4,456 SF4,456 SF
  • Asset Type
    Mixed-useMixed-use
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Ethan Donel

Ethan Donel

Deals15
Sold$31.6M

Daniel Hirth

Daniel Hirth

Deals51
Sold$179.6M

Alex Reyhan

Alex Reyhan

Deals29
Sold$145.4M

Agency

The Hirth Group

The Hirth Group

Agency
Deals96
Volume$359.4M

Social

Deal Summary

SALE IMAGE: Daniel Hirth @hirthgroup, Alex Reyhan @alex_reyhan & Ethan Donel @ethandonel DATE: 12/18/2019 ADDRESS: 10220 Riverside Drive MARKET: Toluca Lake ASSET TYPE: Mixed-Use PRICE: $2,475,000 SF: 4,456 PPSF: $555.43 UNITS: 2 PPU: $1,237,500 CAP: %5.06 BUYER: Toluca Park Place SELLER: Moliver BROKERS: Daniel Hirth, Alex Reyhan, Ethan Donel NOTES: The Hirth Group is pleased to announce another successful closing of 10220 Riverside Drive in prime Toluca Lake! Daniel Hirth, Alex Reyhan, and Ethan Donel represented both the buyer and seller in this transaction by procuring nearly a dozen offers within the first two weeks of marketing. The Hirth Group was successful in breaking a record in Toluca Lake at $555.43 a foot for a two unit mixed use retail/office building totaling ±4,456 SF with no on-site parking. The Skin Agency and the accounting firm known as Foumberg, Juneja, Rocher & Company occupy the property. The building was fully renovated in 2017 and was fully occupied at the time of sale. • 5.06% CAP / 8.70% Pro Forma, • ±4,456 SF of Building | ±5,043 SF Lot, • Price Per SF: $555.43, • Procured Nearly a Dozen Offers, • Two Tenants | Mixed Use Retail/Office | Zero Parking, • Prime Toluca Lake Submarket.

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10220 Riverside Drive

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