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

Property Image
SOLD
$3,900,000

California

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Office4,000 SF
Sold 07/23/2018
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Property Image
SOLD

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

8654 Washington Boulevard, Culver City, CA 90232, USA

See Similar Deals
Office4,000 SF
Sold 07/23/2018
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$975
Total Square Footage:4,000 SF
Transaction Type:Sale

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
6 deals$30.9M volume(310) 293-2882
BROKER

Nathan Pellow
Colliers
7 deals$23M volume
BROKER

Nick Nybakken
Colliers
3 deals$16.3M volume
BROKER

Details

SOLD
IMAGE: Patrick Sheekey and Tina Hopkins DATE: 07/23/2018 ADRESS: 8654 Washington Blvd. MARKET: Culver City CITY: LA ASSET TYPE: Office building PRICE: $3,900,000 SF: 4,000 PPSF: $956 BROKERS: Nathan Pellow, Nick Nybakken, Patrick Sheekey BUYER: JPO22, LLC SELLER: Haley Miranda Group, Tina Hopkins

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

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88