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1520 Pontius Avenue

Terravet Acquires Office Building In West Los Angeles For $4.45M
SOLDOffice

Terravet Acquires Office Building In West Los Angeles For $4.45M

1520 Pontius Avenue

$4,450,000

$590/SF

Building Size

7,535 SF

Asset Type

Office

Closing

Sep 23, 2022

AI

The office property located at 1520-1526 Pontius Ave in West Los Angeles, CA has been sold in a transaction. The property spans 7,535 square feet and was sold for a price of $4,450,000, resulting in a price per square foot of $591.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $4,450,000
  • Square Footage: 7,535
  • Address: 1520-1526 Pontius Ave, West Los Angeles, CA
  • Market: West Los Angeles, CA

Daniel Eisenstadt from Terravet acted as the buyer in this transaction, while the seller was the Nernberg Family Trust. Representing the seller were Kevin Foley, Anthony DeLorenzo, and Bryan Johnson from CBRE.

Players

Bryan Johnson

CBRE

Broker

$763.9M

vol

49 deals

Broker

Daniel Eisenstadt

Buyer

$34.1M

vol

4 deals

Buyer
T
TrustSeller

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

3.56%

Cash-on-Cash

-1.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93