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747 Seward Street

Brian Ballard Of Ballard Partners Acquires Hollywood Office At 747 Seward Street For $3.25M
SOLDOffice

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:

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

John Anthony

Kidder Mathews

Broker

$91.8M

vol

14 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

4.88%

Cash-on-Cash

-1.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93