EOP Realty Buys Office Building On Cole Avenue In Los Angeles For $3.44M
SOLD
$3,435,000
+ 3
California
See Similar DealsOffice3,300 SF
Sold 07/27/2023
SOLD
EOP Realty Buys Office Building On Cole Avenue In Los Angeles For $3.44M
1023 Cole Ave Los Angeles, CA 90038, USA
See Similar DealsOffice3,300 SF
Sold 07/27/2023
+ 3
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,040
Total Square Footage:3,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$183,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,203.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,283.65
Annual Debt Service$195,403.83
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