ERC Group LLC Acquires Office Building In Culver City For $2M
SOLD
$2,000,000
California
See Similar DealsOffice2,222 SF
Sold
SOLD
ERC Group LLC Acquires Office Building In Culver City For $2M
5767 W Adams Blvd, Culver City, CA, USA
See Similar DealsOffice2,222 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$900
Total Square Footage:2222 SF
Transaction Type:Sale
A 2,222-square-foot office property located at 5767 W Adams in Culver City has been sold for $2,000,000. The property was acquired by ERC Group LLC from GK Huson LLC. The transaction was facilitated by Jeff Gerlach of CBRE. The office property is situated in the Culver City market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,000,000
- Square Footage: 2,222
- Price per Square Foot: $900.09
- Address: 5767 W Adams, Culver City
- Market: Culver City
Jeff Gerlach of CBRE served as the broker in this deal, representing both the buyer, ERC Group LLC, and the seller, GK Huson LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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