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1333 Westwood Boulevard, Lo...

University Presbyterian Church Acquires Office Building In Westwood For $9M
SOLDOffice

University Presbyterian Church Acquires Office Building In Westwood For $9M

1333 Westwood Boulevard, Los Angeles, CA 90024, USA

$9,000,000

$575/SF

Building Size

15,646 SF

Asset Type

Office

Closing

Aug 25, 2021

AI

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.

Players

Robert D. Erickson

Industry Partners

Broker

$61.5M

vol

3 deals

Broker

Los Angeles Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93