Korean Evangelical Church Of America Acquires Office Building In Torrance For $3.15M
SOLD
$3,150,000
California
See Similar DealsOffice10,420 SF
Sold 04/01/2020
SOLD
Korean Evangelical Church Of America Acquires Office Building In Torrance For $3.15M
1500 Crenshaw Blvd, Torrance, CA, USA
See Similar DealsOffice10,420 SF
Sold 04/01/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$302
Total Square Footage:10,420 SF
Transaction Type:Sale
The Korean Evangelical Church of America has purchased an office property located at 1500 Crenshaw Blvd in Torrance. The property, spanning 10,420 square feet, was sold by Harry McNamara for a total price of $3,150,000. The office asset is situated in the Torrance market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,150,000
- Square Footage: 10,420
- Address: 1500 Crenshaw Blvd
- Market: Torrance
Jeremy Shore and Audrey Jung from Maher Commercial acted as the brokers in this transaction on behalf of the buyer and seller, respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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