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Andre Herrero Acquires Historic Filipinotown Office Building For $2.75M

Property Image
SOLD
$2,750,000

California

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Office6,300 SF
Sold 06/20/2022
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Property Image
SOLD

Andre Herrero Acquires Historic Filipinotown Office Building For $2.75M

3121 W Temple Street, Los Angeles, California 90026, United States

See Similar Deals
Office6,300 SF
Sold 06/20/2022
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$436
Total Square Footage:6,300 SF
Transaction Type:Sale

The office property located at 3121 W. Temple St. in Historic Filipinotown was recently sold in a transaction. This property spans a total area of 6,300 square feet and is classified as an office asset. It was sold at an asking price of $2,750,000, resulting in a price per square foot of $436.

Summary of transaction details

In this transaction, Andre Herrero acted as the buyer of the property, while the seller was Mario Sanchez. Joshua Nixon from Westside Estate Agency represented the buyer, and the seller was represented by Jeremy Shore and Oron Maher from Maher Commercial Realty.

It is worth noting that the property was sold at the asking price and was acquired by an owner-user. The seller's representatives leveraged multiple qualified offers to ensure the highest possible price for the seller.

Players

Oron Maher
31 deals$159.1M volume(415) 378-5464
BROKER

Jeremy Shore
Maher Commercial Realty
11 deals$53.8M volume
BROKER

Joshua Nixon
Westside Estate Agency
2 deals$9.2M volume
BROKER

Details

SOLD
IMAGE: Oron Maher & Jeremy Shore DATE: 06/20/2022 ADDRESS: 3121 W. Temple St. MARKET: Historic Filipinotown ASSET TYPE: Office BUYER: Andre Herrero SELLER: Mario Sanchez BUYER’S REP: Joshua Nixon - Westside Estate Agency SELLER’S REP: Jeremy Shore (@JaShore) & Oron Maher (@MaherCommercial) - Maher Commercial Realty SALE PRICE: $2,750,000 SF: 6,300 ~ PPSF: $436 NOTE FROM BROKER: - Property sold at asking price to an owner user. - Leveraged multiple qualified offers to procure the highest price for Seller

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

$146,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
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