Updated Sep 11, 2026
Cushman & Wakefield Brokers Facilitate $18M Hotel Sale In Los Angeles
124 East Olympic Boulevard
$18,000,000
$254/SF
Building Size
70,744 SF
Asset Type
Hotel
Closing
Nov 23, 2022
About this deal
AI
The Mama Shelter Hotel located at 124 East Olympic Boulevard in Los Angeles has been sold for a total price of $18,000,000. The hotel spans an area of 70,744 square feet, resulting in a price per square foot of $254. The property was acquired by Kevin Wadhwani from the seller, Jamison Services.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $18,000,000
- Address: 124 East Olympic Boulevard
- Market: Los Angeles
- Square Footage: 70,744
- Price per Square Foot: $254
The deal was facilitated by the brokers Mike Condon Jr, Erick Finck, Mckenna Gaskill, Connor Martin, and Rob Hooks of Cushman & Wakefield, who represented both the buyer and the seller in the transaction. They played a crucial role in ensuring a smooth and successful deal.
Players
Los Angeles Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93