Updated Oct 28, 2024
1510 Colorado LLC Acquires Hotel In Glendale For $15.5M
1510 East Colorado Street, Glendale, California 91205, United States
$15,500,000
$484/SF
Building Size
32,000 SF
Asset Type
Hotel
Closing
May 30, 2022
About this deal
AI
The hotel property located at 1510 E. Colorado St. in Glendale has been sold. The transaction took place on 05/31/2022 between the buyer, 1510 Colorado LLC, represented by AJ Patel, and the seller, Wismax LLC, represented by Kevin Chiu.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,500,000
- Address: 1510 E. Colorado St., Glendale
- Market: Glendale
The hotel comprises a total of 32,000 square feet and was purchased at a price of $15,500,000, resulting in a price per square foot of $484. The buyer, 1510 Colorado LLC, acquired 62 keys as part of the deal. The personal property included in the transaction is valued at $250,000.
AJ Patel represented the buyer, 1510 Colorado LLC, while Kevin Chiu represented the seller, Wismax LLC.
Players
Glendale Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Browse California hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93