SB SPV LLC Sells Mixed-Use Property On West Sunset Blvd In West Hollywood For $8M With Broker Representation By South Park Group Inc And Avison Young
7611 W Sunset Blvd, West Hollywood, CA, USA
$8,000,000
$662/SF
Building Size
12,085 SF
Asset Type
Mixed-use
Closing
Aug 8, 2019
AI
A mixed-use property located at 7611-7623 West Sunset Blvd in West Hollywood has been sold for $8,000,000. The property spans a total of 12,085 square feet, resulting in a price per square foot of $661. The transaction took place on August 9, 2019.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $8,000,000
- Square Footage: 12,085
- Price per Square Foot: $661
- Market: West Hollywood
The seller of the property was SB SPV LLC. The deal was facilitated by Steve Ravan from South Park Group Inc and David Maling & Chris Maling from Avison Young. The buyer was able to satisfy their 1031 Exchange requirement and closed the transaction with an all-cash payment within 30 days from the Opening of Escrow.
Players
West Hollywood 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93