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Wealth Enhancement & Preservation Inc. Acquires Office Building In Westlake Village For $1.16M

Property Image
SOLD
$1,160,000

California

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Office2,493 SF
Sold
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Property Image
SOLD

Wealth Enhancement & Preservation Inc. Acquires Office Building In Westlake Village For $1.16M

2629 Townsgate Rd, Westlake Village, CA 91361, USA

See Similar Deals
Office2,493 SF
Sold
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$465
Total Square Footage:2493 SF
Transaction Type:Sale

The office property located at 2629 Townsgate Road in Westlake Village / Conejo Valley has been sold. The property spans 2,493 square feet and was sold for a price of $1,160,000, resulting in a price per square foot of $465.30. The transaction involved two units, with each unit being sold for $580,000. The buyer in this transaction was Wealth Enhancement & Preservation Inc., while the seller was Red 32 Real Estate. The brokers involved in the deal were Jared Smits from Red 32 Real Estate.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,160,000
  • Square Footage: 2,493
  • Price per Square Foot: $465.30
  • Number of Units: 2
  • Price per Unit: $580,000

This transaction involved the purchase of the property by Wealth Enhancement & Preservation Inc., who will be using the property for their own business needs. The deal was facilitated by Jared Smits from Red 32 Real Estate, representing both the buyer and seller in the transaction.

Players

Jared Smits
10 deals$66.5M volume
BROKER

Details

SOLD
IMAGE: Jared Smits DATE: 04/21/2020 ADDRESS: 2629 Townsgate Road MARKET: Westlake Village / Conejo Valley ASSET TYPE: Office BUYER: Wealth Enhancement & Preservation Inc. SELLER: Red 32 Real Estate BROKERS: Jared Smits PRICE: $1,160,000 SF: 2,493 PPSF: $465.30 UNITS: 2 PPU: $580,000 NOTES: SBA Owner User Purchase.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$61,866.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,121.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,498.99
Annual Debt Service$65,987.90