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450 S Western Ave, Los Ange...

Updated Oct 12, 2026

Private Investment Co. Acquires Property On 450 S Western Ave, Los Angeles For $57.5M With Seller's Rep Chris Caras Of CBRE
SOLDCommercial

Private Investment Co. Acquires Property On 450 S Western Ave, Los Angeles For $57.5M With Seller's Rep Chris Caras Of CBRE

450 S Western Ave, Los Angeles, CA...

$57,500,000

Building Size

—

Asset Type

Commercial

Closing

Nov 19, 2023

About this deal

AI

A private developer has completed the sale of a shopping center located at 450 S. Western Ave. in the Koreatown neighborhood of Los Angeles. The asset was acquired by a private investment company for $57.5 million. The three-story retail property is occupied by a Korean grocery store and features an adjacent four-level parking structure. At the time of sale, the property was 86 percent leased to 25 tenants, including Gaju Market, Pacific City Bank, Myungrang Hot Dog, and BMB Medical.

Summary of transaction details:

  • Property Type: Shopping Center
  • Transaction Amount: $57,500,000.00
  • Address: 450 S Western Ave, Los Angeles, CA
  • Market: Los Angeles
  • Seller's Representative: Michael Shustak, Derrick Moore, Chris Caras & Phillip Sample - CBRE
  • Buyer: Private Investment Co.
  • Occupancy Rate: 86 percent
  • Number of Tenants: 25

Michael Shustak, Derrick Moore, Chris Caras, and Phillip Sample of CBRE’s downtown Los Angeles office acted as the sellers' representatives in the transaction, facilitating the deal between the private developer and the private investment company. This transaction highlights the active real estate market in Koreatown, with a notable occupancy of the retail space at the time of sale.

On the Map

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$57,500,000

Commercial

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Players

Chris Caras

CBRE

Broker

$84M

vol

3 deals

Broker
PG
Private Investment GroupBuyer
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Los Angeles Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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