Gennady Landa Acquires Antelope Valley Office Building For $2.45M
$2,450,000
SOLD
$2,450,000
California
See Similar DealsOffice22,634 SF
Sold 09/20/2019
$2,450,000
SOLD
Gennady Landa Acquires Antelope Valley Office Building For $2.45M
1669 West Avenue J, Lancaster, CA 93534
See Similar DealsOffice22,634 SF
Sold 09/20/2019
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$108
Total Square Footage:22,634 SF
Transaction Type:Sale
A 22,634 square foot office property located at 1669 W Ave J in Antelope Valley has been sold for $2,450,000. The property was purchased by Gennady Landa from West Avenue J at 1669, LLC. The transaction took place on September 20, 2019. The office property was listed at a price of $108.24 per square foot. Ryan Serling, Stuart Fagan, and Martin Agnew from the Cushman & Wakefield commercial real estate company were the brokers involved in the deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,450,000
- Address: 1669 W Ave J
- Market: Antelope Valley
- Square Footage: 22,634
- Price Per Square Foot: $108.24
- Buyer: Gennady Landa
- Seller: West Avenue J at 1669, LLC
- Brokers: Ryan Serling, Stuart Fagan, Martin Agnew from Cushman & Wakefield
Martin Agnew, Stuart Fagan, and Ryan Serling represented the buyer and seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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