Korean Evangelical Church Of America Acquires Office Building In Torrance For $3.15M
1500 Crenshaw Blvd, Torrance, CA, USA
$3,150,000
$302/SF
Building Size
10,420 SF
Asset Type
Office
Closing
Mar 31, 2020
AI
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.
Players
Torrance 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
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93