Montana Avenue Capital Partners Acquires Mixed-Use Property In Culver City For $14.85M
5600 West Centinela Avenue
$14,850,000
$256/SF
Building Size
57,868 SF
Asset Type
Mixed-use
Closing
Jan 28, 2025
AI
The property involved in the transaction is a mixed-use asset located at 5600-5650 West Centinela Avenue in Culver City, Los Angeles, covering an area of 1.7 acres. The sale price of the property was $14,850,000, with a total square footage of 57,868, resulting in a price per square foot of $257.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $14,850,000
- Address: 5600-5650 West Centinela Avenue
- Market: Culver City, Los Angeles
- Square Footage: 57,868
- Price per Square Foot: $257
- Buyer: Jeremy K. Rogers - Montana Avenue Capital Partners
- Seller: Jeff Krasnoff - Rialto Capital
- Brokers: Kristen Bowman & Steve Solomon - Colliers
The transaction was brokered by Colliers, with Kristen Bowman and Steve Solomon representing the parties involved. The campus features open-plan spaces and is targeted to appeal to tenants in the tech, entertainment, or media sectors within the Silicon Beach market.
Players
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
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93