3923 W 6th St Office Building In Koreatown Acquired For $8.75M By Robert Jacobson, Jay Chu, And Ryan Yatman
3923 West 6th Street, Central LA, Los Angeles, CA, USA
$8,750,000
$274/SF
Building Size
31,914 SF
Asset Type
Office
Closing
Jun 20, 2019
AI
The property involved in this transaction is an office located at 3923 W 6th St in Koreatown. The transaction took place on 06/21/2019 and was sold for a price of $8,750,000. The office has a total square footage of 31,914, resulting in a price per square foot of $274.17. The building has a vintage appearance on the exterior but features a highly improved interior. It is currently occupied by well-known musicians, artists, and actors, making it a desirable space for young entrepreneurs.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,750,000
- Square Footage: 31,914
- Price per Square Foot: $274.17
- Market: Koreatown
- Brokers: Robert Jacobson, Jay Chu, Ryan Yatman
Robert Jacobson, Jay Chu, and Ryan Yatman were the brokers involved in this deal. The office space is located on the busiest corner in Koreatown, adding to its appeal. With its vintage exterior and well-designed interior, it has attracted a diverse group of tenants, including musicians, artists, and actors. This transaction showcases the demand for creative office spaces in the Koreatown market.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93