Updated Dec 4, 2024
Sam P Galleries Acquires Office Building On Melrose Avenue For $4M
6700 Melrose Avenue
$4,000,000
$1,185/SF
Building Size
3,373 SF
Asset Type
Office
Closing
Jan 31, 2024
About this deal
AI
The property asset involved in this transaction is located at 6700 Melrose Avenue in Los Angeles. The sale price was $4,000,000, and the property has a total square footage of 3,373, resulting in a price per square foot of $1,186.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,000,000
- Address: 6700 Melrose Avenue
- Market: Los Angeles
- Square Footage: 3,373
- Price per Square Foot: $1,186
- Seller: Liuna 724
- Seller's Representative: Iman Mossanen & Neema Ahadian - Marcus & Millichap
This transaction involved Iman Mossanen and Neema Ahadian representing the seller, Liuna 724, through the brokerage firm of Marcus & Millichap, indicating their role in facilitating the sale and managing the deal.
On the Map
$4,000,000
$1,185/SF
Office
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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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93