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Optimus Properties LLC Acquires Mixed-use Property In Beverly Hills For $15M

Property Image
SOLD
$15,000,000

California

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Mixed-use18,094 SF
Sold 12/31/2019
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Property Image
SOLD

Optimus Properties LLC Acquires Mixed-use Property In Beverly Hills For $15M

9701 South Santa Monica Boulevard, Beverly Hills, CA, USA

See Similar Deals
Mixed-use18,094 SF
Sold 12/31/2019
Contact now

Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$829
Total Square Footage:18,094 SF
Transaction Type:Sale

The property involved in this transaction is a mixed-use asset located at 9701 S. Santa Monica Blvd in Beverly Hills. The sale occurred on 12/31/2019.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $15,000,000
  • Address: 9701 S. Santa Monica Blvd
  • Market: Beverly Hills
  • Square Footage: 18,094
  • Price per Square Foot: $829

The buyer of the property is Optimus Properties LLC, while the seller is Kevin A Singer, Referee for the Superior Court of California County of Los Angeles. The brokers involved in the deal are Luke Palmo, T.C. Macker from WESTMAC Commercial Brokerage Company, and Steve Algermissen from Cushman & Wakefield.

Players

Luke Palmo
4 deals$77.3M volume
BROKER

Stephen (Steve) Algermissen
Cushman & Wakefield
2 deals$62.5M volume
BROKER

T.C. Macker
WESTMAC Commercial Brokerage Company
65 deals$483.6M volume(310) 966-4352
BROKER

Optimum Properties
BUYER

Details

SOLD
IMAGE: Luke Palmo & T.C. Macker @westlacre DATE: 12/31/2019 ADDRESS: 9701 S. Santa Monica Blvd MARKET: Beverly Hills ASSET TYPE: Mixed-use PRICE: $15,000,000 SF: 18,094 PPSF: $829 BUYER: Optimus Properties LLC SELLER: Kevin A Singer, Referee for the Superior Court of California County of Los Angeles BROKERS: Luke Palmo, T.C. Macker – WESTMAC Commercial Brokerage Company @westmac_cre, Steve Algermissen – Cushman & Wakefield

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$799,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83