GM Elite Auto Repair Acquires Retail Property In Northridge From Levaton Family Trust For $2.4M With Broker Darren Casamassima
17060 Devonshire Street, Northridge, California 91325, United States
$2,400,000
$600/SF
Building Size
3,999 SF
Asset Type
Retail
Closing
Jan 27, 2022
AI
The retail property located at 17060 Devonshire Street, Northridge, CA 91325 in Los Angeles has been sold. The property spans a total square footage of 3,999. The sale took place on January 28, 2022, and the buyer is GM Elite Auto Repair. The seller of the property is the Levaton Family Trust. The transaction was facilitated by brokers Darren Casamassima and David Kaufman from Lee & Associates LA North. The sale price for the property was $2,400,000, resulting in a price per square foot of $600.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,400,000
- Buyer: GM Elite Auto Repair
- Seller: Levaton Family Trust
- Brokers: Darren Casamassima & David Kaufman - Lee & Associates LA North
- Square Footage: 3,999
David Kaufman and Darren Casamassima, representing Lee & Associates LA North, played a crucial role in facilitating the sale of the retail property. Their expertise and efforts helped ensure a successful transaction between the buyer, GM Elite Auto Repair, and the seller, Levaton Family Trust.
Players
Northridge 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93