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BH Properties Acquires Office Property In Monterey Park For $15M

Property Image
SOLD
$15,000,000

California

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Office
Sold 05/18/2022
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Property Image
SOLD

BH Properties Acquires Office Property In Monterey Park For $15M

601 Potrero Grande Drive, Monterey Park, California 91755, United States

See Similar Deals
Office
Sold 05/18/2022
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Transaction Type:Sale

Located at 601 Potrero Grande Drive in Monterey Park, this office property spans approximately 8.0 acres. The transaction, completed on 05/18/2022, involved a sale of the property.

Summary of transaction details:

  • Property Type: Office
  • Sale Price: $15,000,000
  • Address: 601 Potrero Grande Drive, Monterey Park
  • Market: Monterey Park
  • Buyer: BH Properties - Andrew Van Tuyle
  • Seller: Blue Shield

BH Properties, represented by Andrew Van Tuyle, acted as the buyer in this transaction, while Blue Shield served as the seller. The sale price for this office property was $15,000,000.

Players

B.H. Properties
B.H. Properties
LENDER

Details

SOLD
IMAGE: Andrew Van Tuyle DATE: 05/18/2022 ADDRESS: 601 Potrero Grande Drive MARKET: Monterey Park ASSET TYPE: Office ~ ACRES: 8.0 BUYER: BH Properties - Andrew Van Tuyle SELLER: Blue Shield SALE PRICE: $15,000,000

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

$799,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83