Safco Acquires Office Building On Santa Monica Blvd In Los Angeles For $11.6M
SOLD
$11,550,000
California
See Similar DealsOffice21,736 SF
Sold 11/04/2020
SOLD
Safco Acquires Office Building On Santa Monica Blvd In Los Angeles For $11.6M
11030 Santa Monica Blvd, Los Angeles, CA, USA
See Similar DealsOffice21,736 SF
Sold 11/04/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$531
Total Square Footage:21,736 SF
Transaction Type:Sale
The office property located at 11030 Santa Monica Blvd in Los Angeles was recently sold in a transaction. The sale took place on November 4, 2020. The property was listed for a total price of $11,550,000, with a square footage of 21,736. The price per square foot for this transaction was $531.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $11,550,000
Safco was the buyer in this transaction. The buyer was represented by David Maghen, Omid Broukhim, and Peyman Zargari of Fact Realty, who are affiliated with MIP Investment Corp. These individuals played a key role in facilitating the purchase of the property.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$616,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,034.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,752.89
Annual Debt Service$657,034.71
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