M West Holdings Acquires Mixed-Use Property In Koreatown From CIM Group For $73.3M
SOLD
California
See Similar DealsMixed-use177,193 SF
Sold 12/14/2018
SOLD
M West Holdings Acquires Mixed-Use Property In Koreatown From CIM Group For $73.3M
3460 West 7th Street, Los Angeles, CA 90005, USA
See Similar DealsMixed-use177,193 SF
Sold 12/14/2018
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$413
Total Square Footage:177,193 SF
Transaction Type:Sale
A mixed-use property located at 3460 W. 7th St. in Koreatown has been sold for $73.3 million. The property spans a total area of 177,193 square feet and has a price per square foot of $411. The transaction took place on December 14, 2018.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $73.3M
- Address: 3460 W. 7th St.
- Market: Koreatown
- Square Footage: 177,193
- Price per Square Foot: $411
The buyer of this property is M West Holdings, while the seller is @CIMGroup. IPA, represented by Ron Harris, Greg Harris, Kevin Green, and Joseph Grabiec, played a role as the brokers in this transaction.
Players
BUYER
SELLER
Details
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,909,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$260,419.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$347,479.40
Annual Debt Service$4,169,752.75
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