Derek Fords Acquires Office At 11788 West Pico Boulevard For $4.15M With Zacuto Group As Buyer's Rep
SOLD
$4,150,000
California
See Similar DealsOffice5,761 SF
Sold 08/09/2024
SOLD
Derek Fords Acquires Office At 11788 West Pico Boulevard For $4.15M With Zacuto Group As Buyer's Rep
11788 West Pico Boulevard
See Similar DealsOffice5,761 SF
Sold 08/09/2024
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$720
Total Square Footage:5,761 SF
Transaction Type:Sale
The transaction involved an office asset located at 11788 West Pico Boulevard in Los Angeles. The sale price for the property was $4,150,000, encompassing a total square footage of 7,000, which translates to a price per square foot of $593.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,150,000
- Address: 11788 West Pico Boulevard
- Market: Los Angeles
- Square Footage: 7,000
- Price per Square Foot: $593
- Buyer: Derek Fords
- Seller: David J. Patow
- Buyer's Representative: Jake Zacuto & Benjamin Khoubian - Zacuto Group
- Seller's Representative: Travis Landrum - Industry Partners
This deal marks Zacuto Group's 8th transaction around Pico Boulevard in the current year, and it is the 4th closed deal for representatives Jake Zacuto and Ben Khoubian. The involvement of Travis Landrum from Industry Partners as the seller's representative highlights the collaboration between different brokerage firms in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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