Isaac Chen Acquires Office Asset At 1754 14th Street Santa Monica For $9.9M
SOLD
$9,900,000
California
See Similar DealsOffice10,000 SF
Sold
SOLD
Isaac Chen Acquires Office Asset At 1754 14th Street Santa Monica For $9.9M
1754 14th Street
See Similar DealsOffice10,000 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$990
Total Square Footage:10000 SF
Transaction Type:Sale
The property asset involved in this transaction is an office located at 1754 14th Street in the Santa Monica market. The sale price of the asset was $9,900,000, encompassing a total area of 10,000 square feet, resulting in a price per square foot of $990.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,900,000
- Buyer: Isaac Chen
- Seller: Jessica Goodman
- Brokers: Brad McCoy & David Wilson - Lee & Associates
- Sale Price: $9,900,000
- Square Footage: 10,000
- Price Per Square Foot: $990
- Partial-interest Purchase: 53% for $5,247,000 at $990/SF
The deal was executed by Isaac Chen as the buyer and Jessica Goodman as the seller, with representation from brokers Brad McCoy and David Wilson of Lee & Associates. This transaction reflects a notable partial-interest acquisition in the Santa Monica market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$528,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
Annual Debt Service$563,172.61
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