Rexford Industrial Acquires Industrial Property In Los Angeles For $28M
SOLD
$28,000,000
California
See Similar DealsIndustrial53,651 SF
Sold 03/24/2022
SOLD
Rexford Industrial Acquires Industrial Property In Los Angeles For $28M
1501 Rio Vista Avenue, Los Angeles, California 90023, United States
See Similar DealsIndustrial53,651 SF
Sold 03/24/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$521
Total Square Footage:53,651 SF
Transaction Type:Sale
Rexford Industrial has closed a deal to purchase an industrial property in Los Angeles. The property, located at 1501-1545 Rio Vista, spans 53,651 square feet. The sale price for the transaction was $28,000,000, resulting in a price per square foot of $521.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $28,000,000
- Address: 1501-1545 Rio Vista
- Market: Los Angeles
- Square Footage: 53,651
- Buyer: Rexford Industrial
- Broker: Jerry Sackler - DAUM Commercial
This deal was facilitated by Jerry Sackler of DAUM Commercial, who represented Rexford Industrial in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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