Sam P Galleries Acquires Office Building On Melrose Avenue For $4M
SOLD
$4,000,000
California
See Similar DealsOffice3,373 SF
Sold 01/31/2024
SOLD
Sam P Galleries Acquires Office Building On Melrose Avenue For $4M
6700 Melrose Avenue
See Similar DealsOffice3,373 SF
Sold 01/31/2024
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,185
Total Square Footage:3,373 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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