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6700 Melrose Avenue

Sam P Galleries Acquires Office Building On Melrose Avenue For $4M
SOLDOffice

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

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:

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.

Players

Iman Mossanen

Marcus & Millichap

Broker

$77.4M

vol

15 deals

Broker

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