Maria Ci Acquires Office Building In West Hollywood For $9M
SOLD
$9,000,000
California
See Similar DealsOffice14,100 SF
Sold 10/01/2021
SOLD
Maria Ci Acquires Office Building In West Hollywood For $9M
1111 North Formosa Avenue, West Hollywood, CA, USA
See Similar DealsOffice14,100 SF
Sold 10/01/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$638
Total Square Footage:14,100 SF
Transaction Type:Sale
The office building located at 1111-1117 N. Formosa Avenue in West Hollywood has been sold for $9,000,000. The property spans 14,100 square feet, resulting in a price per square foot of $638. The transaction took place on October 1, 2021. The buyer, Maria Ci, was represented by Jared Swedelson of NAI Capital, while the seller, Jeff Van, was represented by Chris Spirito of Stafford Commercial Inc.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $9,000,000
- Square Footage: 14,100
- Price per Square Foot: $638
- Address: 1111-1117 N. Formosa Avenue, West Hollywood
- Transaction Date: October 1, 2021
Jared Swedelson of NAI Capital and Chris Spirito of Stafford Commercial Inc. played crucial roles as the buyer's and seller's representatives, respectively, in this office property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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