Scott Romick & Darren Casamassima Acquire Office Building On Cahuenga Blvd, Studio City For $2,278,000
3450 Cahuenga Boulevard West, Studio City, Los Angeles, CA, USA
$2,278,000
$532/SF
Building Size
4,282 SF
Asset Type
Office
Closing
May 14, 2019
AI
The Enclave, located at 3450 Cahuenga Blvd in Studio City, was recently sold in a closed transaction. This unique real estate asset offers owner-user and investor opportunities to acquire live/work condominiums. The units feature three stories with exposed concrete block walls, beams, and wood floors. The Enclave also boasts a range of community amenities including private lounge and BBQ areas, a game area, dog walk, valet visitor parking, secured entry gates, and views of the surrounding Hollywood Hills. With its convenient location close to studios and within walking distance to restaurants and nightlife, The Enclave is a highly desirable property.
Summary of transaction details
- Property Type: Office
- Sale Price: $2,278,000
- Square Footage: 4,282
- Price per Square Foot: $531
- Market: Studio City
Scott Romick and Darren Casamassima, brokers from Leela North Ventura Brokers, played key roles in this transaction. Their expertise and professional representation contributed to the successful sale of The Enclave.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.96%
Cash-on-Cash
-1.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93