David Zander Acquires Santa Monica Office Building From Hudson Pacific Properties For $32.5M
SOLD
$32,494,900
+ 1
California
See Similar DealsOffice46,707 SF
Sold
SOLD
David Zander Acquires Santa Monica Office Building From Hudson Pacific Properties For $32.5M
604 Arizona Avenue
See Similar DealsOffice46,707 SF
Sold
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$695
Total Square Footage:46707 SF
Transaction Type:Sale
A 46,707 square foot office property located at 604 Arizona Ave in Santa Monica has been sold for $32,494,900. The asset was purchased by David Zander from Hudson Pacific Properties.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $32,494,900
- Square Footage: 46,707
- Price Per Square Foot: $696
- Address: 604 Arizona Ave, Santa Monica
- Market: Santa Monica
Brad McCoy, David Wilson, and George Wilson from Lee & Associates represented David Zander as his buyer's representatives in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,733,061.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$115,447.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$154,042.40
Annual Debt Service$1,848,508.85
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