John Tracy Center Acquires Office Building In West Adams For $9.5M
SOLD
$9,500,000
California
See Similar DealsOffice26,114 SF
Sold 08/31/2018
SOLD
John Tracy Center Acquires Office Building In West Adams For $9.5M
2160 West Adams Boulevard, Los Angeles, CA 90018, USA
See Similar DealsOffice26,114 SF
Sold 08/31/2018
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$363
Total Square Footage:26,114 SF
Transaction Type:Sale
The office property located at 2160 W Adams Blvd in West Adams has been sold for $9,500,000. Spanning across 26,114 square feet, the property was acquired by the John Tracy Center from the seller, Goldstein Investment Company. The transaction was facilitated by Ron Burkhardt of Newmark Knight Frank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,500,000
- Address: 2160 W Adams Blvd
- Market: West Adams
- Square Footage: 26,114
Ron Burkhardt from Newmark Knight Frank played a crucial role as the broker in this deal, representing both the buyer, John Tracy Center, and the seller, Goldstein Investment Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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