Fabio Demelo Acquires Office Building In Los Angeles For $2.3M
SOLD
California
See Similar DealsOffice3,585 SF
Sold 12/20/2022
SOLD
Fabio Demelo Acquires Office Building In Los Angeles For $2.3M
1907 E. Washington Blvd.
See Similar DealsOffice3,585 SF
Sold 12/20/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$641
Total Square Footage:3,585 SF
Transaction Type:Sale
The office property located at 1907 E. Washington Blvd. in Los Angeles has been sold for a price of $2,300,000. The property spans a total area of 3,585 square feet, resulting in a price per square foot of $642.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,300,000
- Address: 1907 E. Washington Blvd., Los Angeles
- Square Footage: 3,585
- Price Per Square Foot: $642
The buyer of the property is Fabio Demelo, while the sellers are Steven Florman, Michelle Florman, and Sassan Amini. The transaction was facilitated by the brokers Jay Martinez, Michael Criswell, and Darin Spillman from Kidder Mathews.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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