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Maezra Buys 6507 DE Longpre Ave From Seller Weinandroses In Los Angeles For $4.1M

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SOLD
$4,099,999

California

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4,300 SF
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SOLD

Maezra Buys 6507 DE Longpre Ave From Seller Weinandroses In Los Angeles For $4.1M

6507 DE Longpre Ave, Los Angeles, C...

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4,300 SF
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Summary

CALIFORNIA
Price Per Square Foot:$953
Total Square Footage:4,300 SF
Transaction Type:Sale

A 4,300-square-foot office building at 6507-6509 De Longpre Ave. in Hollywood has sold for $4.1 million, at around $949 per square foot. The property, built in 1948 and renovated in 2008, located near the Cinerama Dome and ArcLight Hollywood movie theater, was reportedly set a price record in the office submarket. The seller, Weinandroses, was represented by Nathan Pellow and Patrick Moody from Colliers International, while the buyer, Maezra, was operated by Blatteis & Schnur Inc.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,099,999.00
  • Address: 6507 De Longpre Ave, Los Angeles
  • Market: Los Angeles
  • Seller's Rep: Nathan Pellow (Colliers International), Patrick Moody (CBRE)
  • Buyer: Maezra
  • Seller: Weinandroses
  • SF: 4300

The property at 6507-6509 De Longpre Ave. found a new owner in Maezra, a Silver Lake-based LLC created for an unnamed music production company, through the representation of Blatteis & Schnur Inc. Interestingly, Go Film, a commercial and television production company, was the previous occupant of the office building, located near the Hollywood/Vine Station of the Los Angeles County Metropolitan Transportation Authority Red Line.

Players

Nathan Pellow
7 deals$23M volume
BROKER

Patrick Moody
CBRE
3 deals$6.8M volume(310) 971-8232
BROKER

Details

SOLD
IMAGE: 6507 DE Longpre Ave, Los Angeles, C... MARKET: Los Angeles SELLER'S REP: Nathan Pellow(Colliers International), Patrick Moody(CBRE) BUYER: Maezra SELLER: Weinandroses PRICE: $4,099,999.00 SF: 4300

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$218,666.61

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,566.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.04