MCAP Partners Acquires Mixed-Use Property In Larchmont Village For $6.3M
SOLD
$6,300,000
California
See Similar DealsMixed-use11,946 SF
Sold 04/16/2019
SOLD
MCAP Partners Acquires Mixed-Use Property In Larchmont Village For $6.3M
5636 Melrose Avenue, Los Angeles, CA, USA
See Similar DealsMixed-use11,946 SF
Sold 04/16/2019
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$527
Total Square Footage:11,946 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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