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Hussein Chahine Acquires Office Property On 8301 Florence Ave In Downey, CA For $5.96M

Property Image
SOLD
$5,965,000
Phillip "Phil" Taggart
John Anthony
Christopher "Chris" Steck
+ 1

California

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Office22,340 SF
Sold 10/06/2022
the dealplayerscompscontact
Property Image
SOLD

Hussein Chahine Acquires Office Property On 8301 Florence Ave In Downey, CA For $5.96M

8301 Florence Avenue

See Similar Deals
Office22,340 SF
Sold 10/06/2022
Phillip "Phil" Taggart
John Anthony
Christopher "Chris" Steck
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$267
Total Square Footage:22,340 SF
Transaction Type:Sale

The office property located at 8301 Florence Ave in Downey, CA has been sold for a total of $5,965,000. The property spans across 22,340 square feet, resulting in a price per square foot of $267.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,965,000
  • Square Footage: 22,340
  • Price per Square Foot: $267
  • Address: 8301 Florence Ave, Downey, CA
  • Market: Downey, CA

The buyer of the property is Hussein Chahine, while Soon Hwa Kim acted as the seller. The transaction was facilitated by the Anthony | Steck | Giordano Team from Kidder Mathews, represented by brokers Phil Taggart, John Anthony, Chris Steck, and Chris Giordano.

Players

John Anthony
Kidder Mathews
John Anthony
14 deals$91.8M volume
BROKER
Christopher "Chris" Steck
Kidder Mathews
Christopher Steck
14 deals$91.8M volume
BROKER
Christopher "Chris" Giordano
Kidder Mathews
Christopher Giordano
13 deals$88.5M volume
BROKER
Phillip "Phil" Taggart
Kidder Mathews
Phillip Taggart
5 deals$27.4M volume
BROKER

Details

SOLD
IMAGE: Phil Taggart, John Anthony, Chris Steck & Chris Giordano DATE: 10/06/2022 ADDRESS: 8301 Florence Ave MARKET: Downey, CA ASSET TYPE: Office BUYER: Hussein Chahine SELLER: Soon Hwa Kim BROKERS: Phil Taggart (@Philsinstgrm), John Anthony (@JohnAnthony445), Chris Steck (@Steckface86) & Chris Giordano (@ChrisGio08) - Anthony | Steck | Giordano Team (@KMTeamasg) - Kidder Mathews SALE PRICE: $5,965,000 SF: 22,340 ~ PPSF: $267

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$318,133.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,192.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,277.14
Annual Debt Service$339,325.72