Citrus Valley Health Partners Acquires Property From Hollfelder Foundation For $7.4M In Covina
SOLD
$7,400,000
California
See Similar DealsOffice39,624 SF
Sold 08/01/2017
SOLD
Citrus Valley Health Partners Acquires Property From Hollfelder Foundation For $7.4M In Covina
1041 W Badillo St, Covina, CA, 91722
See Similar DealsOffice39,624 SF
Sold 08/01/2017
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$186
Total Square Footage:39,624 SF
Transaction Type:Sale
The office complex located at 1041 W Badillo St, Covina, CA 91722, was sold for $7,400,000.00. The asset encompasses a total square footage of 39,624, featuring six units with 20% of them currently leased. Cal Trans stands out as one of the primary tenants in the building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,400,000.00
- Square Footage: 39,624
- Address: 1041 W Badillo St, Covina, CA 91722
- Market: Covina
- Buyer: Citrus Valley Health Partners
- Seller: Hollfelder Foundation
- Buyer's Representative: Chris Johnson (Avison Young), Christopher Larimore (Lee & Associates)
- Seller's Representative: CBRE
Lee & Associates played a significant role in this transaction, with Senior Associate Chris Johnson and founding principal Christopher Larimore representing the buyer, Citrus Valley Health Partners. The seller, Hollfelder Foundation, was represented by CBRE in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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