Igor Pasternak Acquires Church In Los Angeles For $10.7M
SOLD
$10,700,000
+ 1
California
See Similar DealsChurch28,716 SF
Sold 03/10/2023
SOLD
Igor Pasternak Acquires Church In Los Angeles For $10.7M
442 East 3rd Street
See Similar DealsChurch28,716 SF
Sold 03/10/2023
+ 1
Summary
CALIFORNIA
Asset Type:Church
Price Per Square Foot:$372
Total Square Footage:28,716 SF
Transaction Type:Sale
The property at 442 East 3rd Street in Los Angeles has been sold. The asset involved in this transaction is a church, spanning 28,716 square feet. The sale price for this property was $10,700,000, resulting in a price per square foot of $373.
Summary of transaction details
- Property Type: Church
- Transaction Amount: $10,700,000
- Square Footage: 28,716
- Address: 442 East 3rd Street, Los Angeles
- Market: Los Angeles
The buyer of this property is Igor Pasternak. On the other hand, Jodo Shu North America Buddhist Missions acted as the seller. The deal was facilitated by the Anthony | Steck | Giordano Team - Kidder Mathews, with Christopher "Chris" Steck, John Anthony, Christopher "Chris" Giordano, and Phillip "Phil" Taggart as the brokers representing the respective parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$570,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51
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