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Bridge Properties Acquires Retail Asset In Montebello From Seungkwan Lee For $5.41M

Property Image
SOLD
$5,410,000
Jason Anguiano
Orbell Ovaness
Ara Rostamian

California

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Retail26,515 SF
Sold 05/15/2025
the dealplayerscompscontact
Property Image
SOLD

Bridge Properties Acquires Retail Asset In Montebello From Seungkwan Lee For $5.41M

1200 South Greenwood Avenue

See Similar Deals
Retail26,515 SF
Sold 05/15/2025
Jason Anguiano
Orbell Ovaness
Ara Rostamian
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$204
Total Square Footage:26,515 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 1200 South Greenwood Avenue in the Montebello market. It encompasses a total area of 26,515 square feet and was sold for $5,410,000, which translates to approximately $204 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,410,000
  • Buyer: Bridge Properties
  • Seller: Seungkwan Lee
  • Buyer's Representative: Ara Rostamian, Jason Anguiano & Orbell Ovaness - Marcus & Millichap
  • Square Footage: 26,515 SF
  • Price Per Square Foot: $204

The Ovaness-Rostamian Group represented the Buyer, Bridge Properties, in this transaction and effectively managed a complex escrow process. The Buyer's approach was noted as first-class, and their future plans for the property are anticipated to enhance its value significantly.

Players

Orbell Ovaness
Marcus & Millichap
Orbell Ovaness
24 deals$210.7M volume(213) 943-1822
BROKER
Ara Rostamian
Marcus & Millichap
Ara Rostamian
24 deals$210.7M volume(818) 823-0832
BROKER
Jason Anguiano
Marcus & Millichap
Jason Anguiano
3 deals$24.9M volume
BROKER
Marcus & Millichap
Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Ara Rostamian, Jason Anguiano & Orbell Ovaness DATE: 5/15/2025 ADDRESS: 1200 South Greenwood Avenue MARKET: Montebello ASSET TYPE: Retail BUYER: Bridge Properties SELLER: Seungkwan Lee BUYER'S REP: Ara Rostamian (@AraRostamian_cre), Jason Anguiano (@JasonofLa) & Orbell Ovaness (@Orbell_Ovaness) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $5,410,000 SF: 26,515 ~ PPSF: $204 NOTE FROM BROKER: Ovaness-Rostamian Group represented the Buyer in this transaction and navigated a complex escrow. Buyer's conducted themselves in first class fashion and their value-add plans are definitely going to increase the value of the property.

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

$288,533.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,220.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,646.16
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