RPM Investments Acquires Koreatown Office Building On Venice Blvd. For $5M
SOLD
$5,000,000
California
See Similar DealsOffice15,857 SF
Sold 07/15/2022
SOLD
RPM Investments Acquires Koreatown Office Building On Venice Blvd. For $5M
1430 Venice Boulevard
See Similar DealsOffice15,857 SF
Sold 07/15/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$315
Total Square Footage:15,857 SF
Transaction Type:Sale
A 15,857 square foot office property located at 1430 Venice Blvd in Koreatown has been sold for $5,000,000. The property was purchased by RPM Investments from Exceptional Children's Foundation, with the transaction facilitated by brokers Ron Burkhardt, Ryan Plummer, and David Ghermezian of Newmark. The sale price equates to a price per square foot of $315.
Summary of transation details
- Property Type: Office
- Transaction Amount: $5,000,000
- Square Footage: 15,857
- Address: 1430 Venice Blvd
- Market: Koreatown
Ron Burkhardt, Ryan Plummer, and David Ghermezian of Newmark played a key role as brokers in facilitating the transaction between RPM Investments and Exceptional Children's Foundation. The deal represents a significant transaction in the office real estate market in Koreatown.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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