Tae Jung Acquires Retail/Business Property On S. La Brea Ave. In LA For $2.3M
SOLD
$2,300,000
California
See Similar DealsRetail2,230 SF
Sold 12/30/2021
SOLD
Tae Jung Acquires Retail/Business Property On S. La Brea Ave. In LA For $2.3M
1617 La Brea Avenue, Los Angeles, California 90019, United States
See Similar DealsRetail2,230 SF
Sold 12/30/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,031
Total Square Footage:2,230 SF
Transaction Type:Sale
The retail/business property located at 1617 S. La Brea Ave. in LA, CA 90019 has been sold for a total price of $2,300,000. The property, spanning 2,230 square feet, is situated in the Mid-Wilshire market area. The sale was finalized on December 30, 2021.
Summary of transaction details
- Property Type: Retail/Business
- Transaction Amount: $2,300,000
- Square footage: 2,230 sqft
- Address: 1617 S. La Brea Ave., LA, CA 90019
- Market: Mid-Wilshire
The buyer of the property is Tae Jung, while Kevin Lantern acted as the seller. The transaction was facilitated by brokers Bryan Abayan and David Muir from DAUM Commercial Real Estate Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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