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Goldrich & Kest Industries Acquires Retail Property In West Covina For $44.8M

Property Image
SOLD
$44,800,000
Shane Shafer
David Schwartz
BC
+ 1

California

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Retail1,874 SF
Sold 03/26/2018
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Property Image
SOLD

Goldrich & Kest Industries Acquires Retail Property In West Covina For $44.8M

1234 West Cameron Avenue, West Covina, CA, USA

See Similar Deals
Retail1,874 SF
Sold 03/26/2018
Shane Shafer
David Schwartz
BC
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$23,906
Total Square Footage:1,874 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 1234 West Cameron Avenue in Los Angeles, in the West Covina market. The property was sold for a price of $44,800,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $44,800,000
  • Buyer: Goldrich & Kest Industries - Barry Cayton and Ezra Kest, M.D.
  • Seller: Waterton Associates - David Schwartz
  • Broker: Shane Shafer of Berkadia

The buyer of this property is Goldrich & Kest Industries, represented by Barry Cayton and Ezra Kest, M.D. The seller is Waterton Associat

Players

Shane Shafer
Colliers
Shane Shafer
14 deals$814.3M volume(949) 724-5527
BROKER
BC
Barry Cayton
3 deals$68.8M volume
BUYER
EK
Ezra Kest
8 deals$308.7M volume
BUYER
David Schwartz
Waterton
David Schwartz
40 deals$2.8B volume
SELLER

Details

SOLD
IMAGE: Barry Cayton, Ezra Kest, M.D., Shane Shafer and David Schwartz DATE: 03/26/18 ADDRESS: 1234 West Cameron Avenue CITY: Los Angeles MARKET: West Covina ASSET TYPE: Retail PRICE: $44,800,000 BUYER: Goldrich & Kest Industries - Barry Cayton and Ezra Kest, M.D. SELLER: Waterton Associates - David Schwartz BROKER: Shane Shafer of Berkadia NOTE: The Sunset Plaza apartment complex, at 1234 W. Cameron Ave., is spread across five buildings, making the sale pencil out at $246,000 per unit. Waterton purchased the property in 2015 for $27.4 million. The complex was built in 1962 and renovated in 2006. (TRD)

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

$2,389,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,164.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$212,374.86
Annual Debt Service$2,548,498.27