Yong Long Li Acquires Industrial Property In Commerce For $3.9M
SOLD
$3,900,000
California
See Similar DealsIndustrial11,410 SF
Sold 01/19/2024
SOLD
Yong Long Li Acquires Industrial Property In Commerce For $3.9M
6415 Canning Street
See Similar DealsIndustrial11,410 SF
Sold 01/19/2024
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$341
Total Square Footage:11,410 SF
Transaction Type:Sale
The industrial property located at 6415 Canning Street in Commerce has been sold in a closed transaction. The property spans a total area of 11,410 square feet and was sold for a price of $3,900,000. This translates to a price per square foot of $342. The transaction took place on January 19, 2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,900,000
- Address: 6415 Canning Street
- Market: Commerce
- Buyer: Yong Long Li
- Seller: Howard Deutchman
- Buyer's Representative: Steve Chang - Chang Investment Group of KW Commercial
- Seller's Representative: Michael Daniels - Kidder Mathews
The buyer in this transaction was Yong Long Li, while the seller was Howard Deutchman. Representing the buyer was Steve Chang from Chang Investment Group of KW Commercial, and representing the seller was Michael Daniels from Kidder Mathews.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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