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1023 Cole Ave Los Angeles, ...

EOP Realty Buys Office Building On Cole Avenue In Los Angeles For $3.44M
SOLDOffice

EOP Realty Buys Office Building On Cole Avenue In Los Angeles For $3.44M

1023 Cole Ave Los Angeles, CA 90038, USA

$3,435,000

$1,040/SF

Building Size

3,300 SF

Asset Type

Office

Closing

Jul 27, 2023

AI

The office located at 1023 Cole Avenue in Los Angeles was sold for $3,435,000. The property spans 3,300 square feet, resulting in a price per square foot of $1,041.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $3,435,000
  • Address: 1023 Cole Avenue
  • Market: Los Angeles

Lee Polster and Ashton Kent from EOP Realty represented the buyer in the transaction. On the other side, the seller was represented by Steven Salas, Daniel Chiprut, and Kelly Reinker Valdez from Newmark.

Players

Steven Salas

Newmark

Broker

$111M

vol

5 deals

Broker
Matthew Wright

Matthew Wright

Seller

$39.4M

vol

4 deals

Seller

Los Angeles Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.62%

Cash-on-Cash

-1.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93