Updated Feb 16, 2024
Arman Khasigian Acquires Retail Property In Lake Elsinore From Rich Uncles For $7.25M
16491 Lakeshore Dr, Lake Elsinore, CA, USA & 16491 Lakeshore Dr, Lake Elsinore, CA, USA
$7,250,000
$209/SF
Building Size
17,272 SF
Asset Type
Retail
Closing
Aug 2, 2020
About this deal
AI
The property involved in this transaction is a retail asset located at 16491 Lakeshore Dr in Lake Elsinore. The property spans 17,272 square feet and was sold for a price of $7,250,000, resulting in a price per square foot of $419.75. The seller of the property was Rich Uncles, while the buyer was Arman Khasigian.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,250,000
- Address: 16491 Lakeshore Dr
- Market: Lake Elsinore
The brokers involved in this deal were Eric Mandell and Luc Hawkshaw from Apex Properties, as well as Chris Talia and Kevin Mansour from The Mansour Group.
On the Map
$7,250,000
$209/SF
Retail
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Players
Lake Elsinore 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
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93