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Adam Rubin Acquires Mixed-Use Property In Downtown LA For $20.09M

Property Image
SOLD
$20,090,000
Erica Finck
Kylie Rawn
+ 1

California

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Mixed-use321,400 SF
Sold 05/31/2024
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Property Image
SOLD

Adam Rubin Acquires Mixed-Use Property In Downtown LA For $20.09M

1032 South Main Street, 1040 South Main Street, 1017 South Los Angeles Street & 1041 South Los Angeles Street

See Similar Deals
Mixed-use321,400 SF
Sold 05/31/2024
Erica Finck
Kylie Rawn
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$62
Total Square Footage:321,400 SF
Transaction Type:Sale

The mixed-use property located at 1032-1040 South Main Street & 1017-1041 South Los Angeles Street in Downtown Los Angeles has been sold for $20,090,000. The property spans 80,350 square feet, resulting in a price per square foot of $250. The sale involved the buyer, Adam Rubin, and the seller, Aron Harkham.

Summary of transaction details:

Several key individuals and companies were involved in this transaction. Adam Rubin played the role of the buyer. On the selling side, Aron Harkham was the seller. The seller was represented by Mike Condon Jr., Erica Finck, Reid Gratsch, and Kylie Rawn from Cushman & Wakefield.

Players

Mike Condon Jr.
26 deals$1.2B volume
BROKER

Kylie Rawn
Cushman & Wakefield
7 deals$285.1M volume
BROKER

Erica Finck
Cushman & Wakefield
11 deals$648.6M volume(213) 426-3052
BROKER

Reid Gratsch
Cushman & Wakefield
7 deals$313.1M volume(310) 943-5526
BROKER

Details

SOLD
IMAGE: Mike Condon Jr., Erica Finck, Reid Gratsch & Kylie Rawn DATE: 05/31/2024 ADDRESS: 1032-1040 South Main Street & 1017-1041 South Los Angeles Street MARKET: Downtown Los Angeles ASSET TYPE: Mixed-use BUYER: Adam Rubin SELLER: Aron Harkham SELLER'S REP: Mike Condon Jr., Erica Finck, Reid Gratsch & Kylie Rawn - Cushman & Wakefield (@CushWake) SALE PRICE: $20,090,000 SF: 80,350 ~ PPSF: $250

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,071,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,375.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,236.85
Annual Debt Service$1,142,842.19