Updated Sep 11, 2024
Dwight Kay Acquires Medical Office In Los Angeles County For $7.7M
2703 South Towne Avenue, Pomona, California 91766, United States
$7,730,000
$669/SF
Building Size
11,549 SF
Asset Type
—
Closing
Feb 16, 2022
About this deal
AI
This medical office asset located at 2703 S. Towne Ave. in Los Angeles County was sold for $7,730,000. The property encompasses a total square footage of 11,549, resulting in a price per square foot of $669.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $7,730,000
- Square Footage: 11,549 SF
- Price Per Square Foot: $669
- Buyer: Dwight Kay
- Seller: Stanley Hess
- Brokers: Daniel Solomon, Michael Moreno & Rahul Chhajed - Matthews Real Estate Investment Services
The transaction involved key participants including the buyer, Dwight Kay, and the seller, Stanley Hess, with representation provided by brokers Daniel Solomon, Michael Moreno, and Rahul Chhajed from Matthews Real Estate Investment Services, facilitating the deal.
Players
Pomona CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.05%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93