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Vartan Kushkyan Acquires Industrial Property In Downtown Los Angeles For $8M

Property Image
SOLD
$8,011,011
Ryan Rothstein-Serling
Martin Agnew
+ 1

California

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Industrial23,748 SF
Sold 04/29/2021
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Property Image
SOLD

Vartan Kushkyan Acquires Industrial Property In Downtown Los Angeles For $8M

1650 Mateo St, Los Angeles, CA, USA

See Similar Deals
Industrial23,748 SF
Sold 04/29/2021
Ryan Rothstein-Serling
Martin Agnew
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$337
Total Square Footage:23,748 SF
Transaction Type:Sale

The industrial property located at 1650 & 1652 Mateo St. in Downtown Los Angeles has recently been sold. The transaction took place on 04/29/2021 and the property was purchased by Vartan Kushkyan. The seller of the property was Becore LLC. The sale price for the property was $8,011,011. The property spans across 23,748 square feet, resulting in a price per square foot of $337. The property is situated in a prime location in Downtown Los Angeles's market.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $8,011,011
  • Buyer: Vartan Kushkyan
  • Seller: Becore LLC
  • Buyer's Representatives: Brad Wetherby, Martin Agnew, Ryan Serling
  • Seller's Representative: Holly Forsythe
  • Address: 1650 & 1652 Mateo St.
  • Market: Downtown Los Angeles
  • Square footage: 23,748
  • Price per square foot: $337

Brad Wetherby, Martin Agnew, and Ryan Serling from the Agnew Serling Group represented the buyer, while Holly Forsythe represented the seller in the transaction. The deal was successfully finalized, showcasing the expertise and professionalism of the involved individuals and companies.

Players

Martin Agnew
119 deals$436.8M volume
BROKER

Ryan Rothstein-Serling
Marcus & Millichap
122 deals$509.8M volume(818) 212-2725
BROKER

Bradley (Brad) Wetherby
Marcus & Millichap
16 deals$32.4M volume
BROKER

Holly Forsythe
1 deal$8M volume
BROKER

Details

SOLD
IMAGE: Martin Agnew @MartyAgnew & Ryan Serling @RyanRS14 DATE: 04/29/2021 ADDRESS: 1650 & 1652 Mateo St. MARKET: Downtown Los Angeles ASSET TYPE: Industrial BUYER: Vartan Kushkyan SELLER: Becore LLC BUYER’S REP: Brad Wetherby @BradWetherby, Martin Agnew @MartyAgnew & Ryan Serling @RyanRS14 @AgnewSerlingGroup SELLER’S REP: Holly Forsythe SALE PRICE: $8,011,011 SF: 23,748 ~ PPSF: $337

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$28,461.43
Cash-on-Cash Return-1.27%
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