facebook

traded

+ Submit
Home

/

Deals

/

California

/

Office

/

Sale

/

738 N Highland Ave, Los Ang...

Private Investor Acquires Hollywood Office Building For $1.8M Represented By JLL
SOLDOffice

Private Investor Acquires Hollywood Office Building For $1.8M Represented By JLL

738 N Highland Ave, Los Angeles, CA...

$1,800,000

$947/SF

Building Size

1,900 SF

Asset Type

Office

Closing

Jun 28, 2016

AI

An owner-occupied office building at 738 North Highland Ave in Hollywood was sold for a record price of $1.8 million, at a rate of $947 per square foot, to a private investor in Los Angeles. The property spans 1,900 square feet and is situated in the bustling market of Los Angeles.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,800,000.00
  • Address: 738 N Highland Ave, Los Angeles, CA...
  • Market: Los Angeles
  • Seller's Rep: Nicole Mihalka (JLL)
  • Buyer: Private Investor
  • Price: $1,800,000.00
  • SF: 1900

Nicole Mihalka from JLL represented the seller, an LA private investor, in the transaction of the office building at 738 North Highland Ave. This record-breaking deal in Hollywood's Highland Avenue corridor highlights the area's significance as an entertainment hub, housing design showrooms, and art galleries. Nicole anticipates further growth in the region, foreseeing it to rival other prominent corridors in the city over the next decade. She mentions that savvy investors are already taking advantage of this opportunity.

Players

Nicole Mihalka

CBRE

Broker

$29.6M

vol

11 deals

Broker

Los Angeles Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93