Foreman Lam Acquires Industrial Property From Chin Zong Tsai In Covina For $20.85M
SOLD
$20,848,314
California
See Similar DealsIndustrial72,500 SF
Sold 03/28/2025
SOLD
Foreman Lam Acquires Industrial Property From Chin Zong Tsai In Covina For $20.85M
753 Arrow Grand Circle
See Similar DealsIndustrial72,500 SF
Sold 03/28/2025
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$287
Total Square Footage:72,500 SF
Transaction Type:Sale
The asset involved in this sale is an industrial property located at 753 Arrow Grand Circle in Covina. The transaction amount was $20,848,314 for a total square footage of 72,500, resulting in a price per square foot of $287.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,848,314
- Square Footage: 72,500
- Price per Square Foot: $287
- Buyer: Foreman Lam
- Seller: Chin Zong Tsai
- Broker Representatives: Justin Chiang & Kevin Ching - Lee & Associates
- Transaction Date: 03/28/2025
- Market: Covina
This transaction involved Foreman Lam as the buyer and Chin Zong Tsai as the seller, with representation from brokers Justin Chiang and Kevin Ching from Lee & Associates, who facilitated the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,111,910.10
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,069.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,831.64
Annual Debt Service$1,185,979.74
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