Updated Oct 28, 2024
Kaiser Foundation Acquires Motel In East Hollywood For $30.8M
1401 N Vermont Ave, Los Angeles, California 90027, United States
$30,800,000
$1,400/SF
Building Size
22,000 SF
Asset Type
Other
Closing
Mar 10, 2022
About this deal
AI
The Motel located at 1401 North Vermont Avenue in East Hollywood has been sold for $30,800,000. The transaction took place on 03/11/2022. The Motel spans 22,000 square feet with a price per square foot of $1,400. The buyer of this property is Kaiser Foundation, while the seller is Grubb Properties.
Summary of transaction details:
- Property Type: Motel
- Transaction Amount: $30,800,000
- Address: 1401 North Vermont Avenue
- Market: East Hollywood
- Buyer: Kaiser Foundation
- Seller: Grubb Properties
- Keys: 73
- Price per Key: $422,000
- Square Feet: 22,000
- Price per Square Foot: $1,400
Clay Grubb from Grubb Properties represented the seller, while the buyer was represented by Kaiser Foundation's representative.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93