Cushman & Wakefield Sells Los Angeles Office Portfolio For $38.6M
SOLD
$38,600,000
+ 2
California
See Similar DealsMultiFamily61,552 SF
Sold 02/15/2023
SOLD
Cushman & Wakefield Sells Los Angeles Office Portfolio For $38.6M
1820 Industrial Street & 1811-1909 E 7th St
See Similar DealsMultiFamily61,552 SF
Sold 02/15/2023
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$627
Total Square Footage:61,552 SF
Transaction Type:Sale
The property involved in this closed transaction is a portfolio consisting of two buildings located at 1820 Industrial Street and 1811-1909 E 7th St in Los Angeles. The property falls under the asset type of office. The transaction took place on 02/15/2023.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $38,600,000
- Building Square Footage: 40,000
- Lot Square Footage: 22,000
- Address: 1820 Industrial Street & 1811-1909 E 7th St, Los Angeles
The sellers were represented by Mike Condon Jr., Erica Finck, Brittany Winn, McKenna Gaskill, and Connor Martin from Cushman & Wakefield. The buyer's representative in the deal was Scott Fraizer from Lee & Associates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,058,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$137,137.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$182,983.69
Annual Debt Service$2,195,804.31
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