Danny Kwon Acquires Industrial Property In Vernon For $5.8M
SOLD
$5,795,000
California
See Similar DealsIndustrial20,100 SF
Sold 03/24/2023
SOLD
Danny Kwon Acquires Industrial Property In Vernon For $5.8M
2532 E 49th, Vernon, CA 90058, USA
See Similar DealsIndustrial20,100 SF
Sold 03/24/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$288
Total Square Footage:20,100 SF
Transaction Type:Sale
The industrial property located at 2532 E 49th in Vernon has been sold. The transaction took place on 03/24/2023 at a sale price of $5,795,000. The property spans across 20,100 square feet, resulting in a price per square foot of $288. The buyer of the property is Danny Kwon, while the seller is Scott Pettitt.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,795,000
- Address: 2532 E 49th, Vernon
- Market: Vernon
The deal was facilitated by brokers Jake Zacuto, Andrew Sinasohn, and Gabe Hisem of Zacuto Group, who represented both the buyer and the seller in the transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,588.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,471.26
Annual Debt Service$329,655.08
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