MCAP Partners Acquires Mixed-Use Property In Larchmont Village For $6.3M
5636 Melrose Avenue, Los Angeles, CA, USA
$6,300,000
$527/SF
Building Size
11,946 SF
Asset Type
Mixed-use
Closing
Apr 15, 2019
AI
A mixed-use property located at 656-660 N Larchmont Blvd and 5626-5636 W Melrose Ave in Larchmont Village has been sold for $6.3 million. The property spans 11,946 square feet, resulting in a price per square foot of $527. The transaction took place on April 16, 2019.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $6.3M
- Address: 656-660 N Larchmont Blvd, 5626-5636 W Melrose Ave
- Market: Larchmont Village
@MCAPPartners is the buyer of the property, while the seller is the Leonian Family Trust. The deal was facilitated by Paul Brehme from WESTMAC Commercial.
The transaction involves a value-add retail repositioning opportunity.
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93