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8420 Melrose Ave, West Holl...

L3 Capital Acquires 8420 Melrose Ave West Hollywood From American Commercial Equities For $22.9M
SOLDOffice

L3 Capital Acquires 8420 Melrose Ave West Hollywood From American Commercial Equities For $22.9M

8420 Melrose Ave, West Hollywood, C...

$22,900,000

$2,027/SF

Building Size

11,295 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property asset involved in this transaction is located at 8420 Melrose Ave, West Hollywood, CA. It has a market value of $22,900,000.00 and encompasses a total square footage of 11,295 SF.

Summary of transaction details:

The deal involves L3 Capital as the buyer and American Commercial Equities as the seller. Kazuko Morgan and Carine Mamann from Cushman & Wakefield represent the buyer in this transaction, while the seller is represented by David Ickovics.

Players

Carine Mamann

Cushman & Wakefield

Broker

$204.4M

vol

9 deals

Broker
L3 Capital
L3 CapitalBuyer
L3 Capital
L3 CapitalLender

West Hollywood 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

0.69%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93