Golden West Properties Acquires Mixed-Use Property On Wilshire Blvd In Santa Monica
2901 Wilshire BLVD, Santa Monica, CA...
Building Size
45,881 SF
Asset Type
Mixed-use
Closing
Nov 20, 2023
AI
The Yale-Wilshire Medical Building is a mixed-use property located at 2901 Wilshire Blvd in Santa Monica, CA. This asset includes a medical office building with a total square footage of 45,881 and features 6,700 square feet of ground-floor retail space. The property was sold by Yale Wilshire LTD to an affiliate of Golden West Properties.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Undisclosed
- Address: 2901 Wilshire Blvd, Santa Monica, CA
- Market: Santa Monica
- Seller's Representative: Mark Esses - California Realty Group
- Buyer: Golden West Properties
Mark Esses of California Realty Group represented the seller, Yale Wilshire LTD, in this transaction, facilitating the transfer of ownership to Golden West Properties. The deal highlights the involvement of California Realty Group in managing property sales in the competitive Santa Monica market.
Santa Monica Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93