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Fabio Demelo Acquires Office Building In Los Angeles For $2.3M

Property Image
SOLD
$2,300,000

California

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Office3,585 SF
Sold 12/20/2022
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Property Image
SOLD

Fabio Demelo Acquires Office Building In Los Angeles For $2.3M

1907 E. Washington Blvd.

See Similar Deals
Office3,585 SF
Sold 12/20/2022
Contact now

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.

Players

Darin Spillman
15 deals$55.2M volume(310) 592-8269
BROKER

Jay Martinez
Kidder Mathews
41 deals$145.3M volume(310) 658-3375
BROKER

Michael Criswell
5 deals$14.3M volume
BROKER

Details

SOLD
IMAGE: Michael Criswell, Jay Martinez & Darin Spillman DATE: 12/20/2022 ADDRESS: 1907 E. Washington Blvd. MARKET: Los Angeles ASSET TYPE: Office BUYER: Fabio Demelo SELLER: Steven Florman, Michelle Florman, Sassan Amini BROKERS: Jay Martinez (@Jaymartinezkidder), Michael Criswell (@Mikeycriswell) & Darin Spillman (@DarinSpillmanKidder) - Kidder Mathews SALE PRICE: $2,300,000 SF: 3,585 ~ PPSF: $642

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
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