Chung Ung Kim Acquires Industrial Property In Inland Empire For $2.5M
SOLD
$2,534,560
California
See Similar DealsIndustrial81,760 SF
Sold
SOLD
Chung Ung Kim Acquires Industrial Property In Inland Empire For $2.5M
692 Parkridge Avenue
See Similar DealsIndustrial81,760 SF
Sold
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$31
Total Square Footage:81760 SF
Transaction Type:Sale
The industrial property at 692 Parkridge Ave. in Inland Empire was sold for a price of $2,534,560. The property spans across 8,176 square feet, resulting in a price per square foot of $310. The transaction took place on 08/19/2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,534,560
- Address: 692 Parkridge Ave.
- Market: Inland Empire
The buyer of the property was Chung Ung Kim, while the sellers were Scott Whipple and John Gordon. The buyer was represented by Nathan Demosthenes and Joseph Lising from Cushman & Wakefield, while Brett Lockwood, also from Cushman & Wakefield, represented the sellers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$135,176.52
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,004.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,015.11
Annual Debt Service$144,181.29
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