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
$2,300,000
$1,031/SF
Building Size
2,230 SF
Asset Type
Retail
Closing
Dec 29, 2021
AI
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.
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93