Arman Khasigian Acquires Retail Property In Lake Elsinore From Rich Uncles For $7.25M
SOLD
$7,250,000
+ 3
California
See Similar DealsRetail34,544 SF
Sold 08/03/2020
SOLD
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
See Similar DealsRetail34,544 SF
Sold 08/03/2020
+ 3
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$209
Total Square Footage:34,544 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.70
Annual Debt Service$412,424.39
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