University Presbyterian Church Acquires Office Building In Westwood For $9M
SOLD
$9,000,000
California
See Similar DealsOffice15,646 SF
Sold 08/25/2021
SOLD
University Presbyterian Church Acquires Office Building In Westwood For $9M
1333 Westwood Boulevard, Los Angeles, CA 90024, USA
See Similar DealsOffice15,646 SF
Sold 08/25/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$575
Total Square Footage:15,646 SF
Transaction Type:Sale
The office property located at 1333 Westwood Blvd. in Westwood has been sold for a price of $9,000,000. The transaction took place on August 25, 2021. The property spans a total area of 15,646 square feet, resulting in a price per square foot of $575.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,000,000
- Square Footage: 15,646
- Price per Square Foot: $575
- Address: 1333 Westwood Blvd.
- Market: Westwood
The sellers of the property were Gilbert Grosslight and Dona Grosslight. The buyers, on the other hand, were University Presbyterian Church. The sale was facilitated by the brokers Robert D. Erickson and Bryan Carnes from Industry Partners.
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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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