GM Elite Auto Repair Acquires Retail Property In Northridge From Levaton Family Trust For $2.4M With Broker Darren Casamassima
SOLD
$2,400,000
California
See Similar DealsRetail3,999 SF
Sold 01/28/2022
SOLD
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
See Similar DealsRetail3,999 SF
Sold 01/28/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$600
Total Square Footage:3,999 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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