Brian Ballard Of Ballard Partners Acquires Hollywood Office At 747 Seward Street For $3.25M
747 Seward Street
$3,250,000
Building Size
—
Asset Type
Office
Closing
Nov 14, 2024
AI
The property asset involved in this transaction is an office building located at 747 Seward Street in Hollywood, Los Angeles. The building was acquired for a total sale price of $3,250,000. This acquisition adds to Brian Ballard's portfolio, following his earlier purchase of the adjacent property at 743 Seward Street for $10.95 million in 2023, and is intended for future development and parking.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,250,000
- Buyer: Brian Ballard - Ballard Partners
- Brokers: Christopher Steck & John Anthony - Kidder Mathews
- Address: 747 Seward Street
- Market: Hollywood, Los Angeles
Brian Ballard's strategic acquisition of the property emphasizes his continued investment in the Hollywood area, enhancing the potential for future developments. The deal was brokered by Christopher Steck and John Anthony, who successfully facilitated the transaction for Kidder Mathews.
Players
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
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93