Updated Aug 7, 2026
SOLDMixed-use
Eric Schames Buys Mixed-Use Property In Los Angeles For $1.72M
8459 South Broadway, Los Angeles, CA, USA
$1,720,000
$151/SF
Building Size
11,382 SF
Asset Type
Mixed-use
Closing
Oct 6, 2021
About this deal
AI
The mixed-use property located at 8459 S. Broadway & 8470 S. Olive St. in Los Angeles was recently sold in a transaction on 10/06/2021. The property, spanning 11,382 square feet, was sold for a total price of $1,720,000, equating to a price per square foot of $151. The seller in this deal was Ramin Saghian, while the buyer was 8459 Broadway Partners LLC, represented by Eric Schames. The brokers facilitating the transaction were Jay Martinez and Darin Spillman from Hudson Partners.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,720,000
- Buyer: 8459 Broadway Partners LLC - Eric Schames
- Seller: Ramin Saghian
- Brokers: Jay Martinez & Darin Spillman - Hudson Partners
- Address: 8459 S. Broadway & 8470 S. Olive St.
- Market: Los Angeles
- Square Footage: 11,382
- Price per Square Foot: $151
The deal involving the sale of the mixed-use property also included key individuals such as Jay Martinez and Darin Spillman from Hudson Partners, who served as the brokers in the transaction. It's noteworthy that Eric Schames represented 8459 Broadway Partners LLC in the deal, resulting in the successful acquisition of the property from Ramin Saghian.
On the Map
$1,720,000
$151/SF
Mixed-use
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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
9.22%
Cash-on-Cash
-2.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93