Updated Oct 28, 2024
Lendlease Acquires Mixed-Use Property In West Adams For $92M
3401 La Cienega Boulevard, Los Angeles, California 90016, United States
$92,000,000
$400/SF
Building Size
229,869 SF
Asset Type
Mixed-use
Closing
Jan 23, 2022
About this deal
AI
The mixed-use property located at 3401 South La Cienega Blvd. in West Adams has been sold for a total of $92,000,000. The transaction took place on January 24, 2022. The property spans across 3.5 acres and consists of 260 units with a total square footage of 229,869. The price per unit is estimated to be $353,846, while the price per square foot is $400.
Summary of transaction details:
- Property Type: Mixed-use
- Sale Price: $92,000,000
- Units: 260
- Price per Unit: $353,846
- Square Footage: 229,869
- Price per Square Foot: $400
- Address: 3401 South La Cienega Blvd., West Adams
- Market: West Adams
The buyer in this transaction is Lendlease, represented by Tony Lombardo. This sale represents a significant investment in the West Adams market, highlighting the demand for mixed-use properties in the area.
Los Angeles 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93