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3923 W 6th St Office Building In Koreatown Acquired For $8.75M By Robert Jacobson, Jay Chu, And Ryan Yatman

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SOLD
$8,750,000

California

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Office31,914 SF
Sold 06/21/2019
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SOLD

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

See Similar Deals
Office31,914 SF
Sold 06/21/2019
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$274
Total Square Footage:31,914 SF
Transaction Type:Sale

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

Jay Chu
6 deals$101.9M volume
BROKER

Robert Jacobson
7 deals$99.7M volume
BROKER

Ryan Yatman
Secured Properties
3 deals$32.9M volume
BROKER

Details

SOLD
IMAGE: Robert Jacobson @bobajacobson, Jay Chu & Ryan Yatman @securedproperties @Kingsofkoreatown DATE: 06/21/2019 ADDRESS: 3923 W 6th St MARKET: Koreatown ASSET TYPE: Office PRICE: $8,750,000 SF: 31,914 PPSF: $274.17 BROKERS: Robert Jacobson, Jay Chu, Ryan Yatman NOTES: Creative offices occupied by well known musicians, artists, and actors, on the busiest corner in Koreatown. Vintage looking building on the exterior with a highly improved interior makes this property highly desirable for young entrepreneur's.

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

$466,666.68

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,086.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,479.46
Annual Debt Service$497,753.57