Jeff Payene Acquires Office Building On 2255 Barry Avenue In West Los Angeles For $2.8M
SOLD
$2,800,000
+ 1
California
See Similar DealsOffice3,700 SF
Sold 10/19/2021
SOLD
Jeff Payene Acquires Office Building On 2255 Barry Avenue In West Los Angeles For $2.8M
2255 Barry Avenue, West Los Angeles, Los Angeles, CA, USA
See Similar DealsOffice3,700 SF
Sold 10/19/2021
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$756
Total Square Footage:3,700 SF
Transaction Type:Sale
Located in West Los Angeles, the property at 2255 Barry Avenue has been sold in a recent transaction. The asset type of this property is an office with a total square footage of 3,700. The sale took place on October 19, 2021, with a sale price of $2,800,000. The price per square foot is calculated to be $756.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,800,000
- Square Footage: 3,700
- Address: 2255 Barry Avenue
- Market: West Los Angeles
The buyer in this transaction is Jeff Payene, while Joie Manda served as the seller. The deal was facilitated by Brad McCoy, Conor Halloran, and David Wilson of Lee & Associates, who represented both the buyer and seller. Their expertise and negotiation skills contributed to the successful closing of this office sale transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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