Earl C. Planett Trust & Lynda L. Todd Sell Office Building In Downey For $4.1M. Kidder Mathews Brokers Are Phillip Taggart, John Anthony, Christopher Giordano & Christopher Steck
SOLD
$4,075,000
+ 1
California
See Similar DealsOffice7,000 SF
Sold 10/11/2023
SOLD
Earl C. Planett Trust & Lynda L. Todd Sell Office Building In Downey For $4.1M. Kidder Mathews Brokers Are Phillip Taggart, John Anthony, Christopher Giordano & Christopher Steck
8151 3rd Street
See Similar DealsOffice7,000 SF
Sold 10/11/2023
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$582
Total Square Footage:7,000 SF
Transaction Type:Sale
The office property located at 8151 3rd Street in Downey has been sold for a total price of $4,075,000. The property spans 7,000 square feet, resulting in a price per square foot of $582. The sale was facilitated by brokers Phillip Taggart, John Anthony, Christopher Giordano, and Christopher Steck from Kidder Mathews.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,075,000
- Square Footage: 7,000
- Price per Square Foot: $582
- Address: 8151 3rd Street, Downey
- Market: Downey
- Seller: Earl C. Planett Trust & Lynda L. Todd
- Brokers: Phillip Taggart, John Anthony, Christopher Giordano, Christopher Steck
The sale involved the Earl C. Planett Trust and Lynda L. Todd as the sellers. The brokers responsible for the transaction were Phillip Taggart, John Anthony, Christopher Giordano, and Christopher Steck from Kidder Mathews.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$217,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,477.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,317.58
Annual Debt Service$231,810.95
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