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8654 Washington Boulevard, ...

JPO22, LLC Acquires Office Building In Culver City, LA For $3.9M
SOLDOffice

JPO22, LLC Acquires Office Building In Culver City, LA For $3.9M

8654 Washington Boulevard, Culver City, CA 90232, USA

$3,900,000

$975/SF

Building Size

4,000 SF

Asset Type

Office

Closing

Jul 22, 2018

AI

An office building located at 8654 Washington Blvd. in Culver City, LA, was recently sold for $3,900,000. The property spans 4,000 square feet, resulting in a price per square foot of $956. The transaction took place on July 23, 2018. The buyers, JPO22, LLC, acquired the property from the sellers, Haley Miranda Group and Tina Hopkins. The deal was facilitated by brokers Nathan Pellow, Nick Nybakken, and Patrick Sheekey.

Summary of transaction details:

  • Property Type: Office building
  • Transaction Amount: $3,900,000
  • Address: 8654 Washington Blvd.
  • Market: Culver City
  • City: LA
  • Square Footage: 4,000 sq.ft
  • Price Per Square Foot: $956
  • Buyer: JPO22, LLC
  • Seller: Haley Miranda Group, Tina Hopkins
  • Brokers: Nathan Pellow, Nick Nybakken, Patrick Sheekey

This transaction involved Patrick Sheekey and Tina Hopkins. The office building, located at 8654 Washington Blvd. in Culver City, LA, offers 4,000 square feet of space. The price per square foot for the property was $956. The deal took place on July 23, 2018, with a sale price of $3,900,000. Brokers Nathan Pellow, Nick Nybakken, and Patrick Sheekey represented the buyer, JPO22, LLC, in the transaction, while the sellers were Haley Miranda Group and Tina Hopkins.

Players

J. Patrick Sheekey

Highland Partners

Broker

$30.9M

vol

6 deals

Broker

Culver City 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

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93