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Le Conte Westwood Development Sells Office Building In Los Angeles For $38.2 Million
SOLD
California
See Similar DealsOffice9,600 SF
Sold
SOLD
Le Conte Westwood Development Sells Office Building In Los Angeles For $38.2 Million
10918 Le Conte Avenue
See Similar DealsOffice9,600 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$3979
Total Square Footage:9600 SF
Transaction Type:Sale
A 1.16-acre development site located at 10918–10926 Le Conte Avenue in Los Angeles features a 9,600-square-foot office building that was sold for $38.2 million in an off-market transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $38,200,000
- Address: 10918-10926 Le Conte Avenue
- Market: Los Angeles
- Acres: 1.16
- Square Feet: 9,600
- Price Per Square Foot: $3,979
- Seller: Le Conte Westwood Development
- Buyer's Representatives: David Kluth - Newmark; Aliya Coher - JLL
- Seller's Representatives: Ryan Plummer - Newmark; Willa McNamarra Fields & Jim Burnap - WESTMAC Commercial Brokerage Company
The deal was represented by Newmark’s Ryan Plummer and the WESTMAC team of Willa McNamarra Fields and Jim Burnap for the seller, Le Conte Westwood Development. The buyer was represented by David Kluth from Newmark and Aliya Coher from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,037,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$135,716.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$181,087.49
Annual Debt Service$2,173,049.86
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