Ken Marcus Sells Hollywood Office Building On Melrose Ave For $3.6M
SOLD
$3,600,000
California
See Similar DealsOffice5,114 SF
Sold 09/27/2019
SOLD
Ken Marcus Sells Hollywood Office Building On Melrose Ave For $3.6M
6914 Melrose Avenue, Hollywood, Los Angeles, CA, USA
See Similar DealsOffice5,114 SF
Sold 09/27/2019
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$703
Total Square Footage:5,114 SF
Transaction Type:Sale
An office property located at 6914 Melrose Ave in Hollywood was recently sold for $3,600,000. The property spans across 5,114 square feet and was sold at a price per square foot of $703.95. The transaction took place on September 27, 2019.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,600,000
- Address: 6914 Melrose Ave
- Market: Hollywood
The seller of the property was Ken Marcus. The sale was facilitated by the brokers, David Pressberg and Jordan Rubinstein.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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