Danny Kwon Acquires Industrial Property In Vernon For $5.8M
SOLD
$5,795,000
+ 1
California
See Similar DealsIndustrial20,100 SF
Sold 03/24/2023
SOLD
Danny Kwon Acquires Industrial Property In Vernon For $5.8M
2535 East 49th Street
See Similar DealsIndustrial20,100 SF
Sold 03/24/2023
+ 1
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 for a price of $5,795,000. The property spans across 20,100 square feet, resulting in a price per square foot of $288. The transaction took place on March 24, 2023. The property is situated in the Vernon market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,795,000
- Address: 2532 E 49th
- Market: Vernon
- Square Footage: 20,100
- Price Per Square Foot: $288
Danny Kwon has acquired the property from Scott Pettitt. The deal was facilitated by brokers Jake Zacuto, Andrew Sinasohn, and Gabe Hisem from the Zacuto Group.
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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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