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17060 Devonshire Street, No...

GM Elite Auto Repair Acquires Retail Property In Northridge From Levaton Family Trust For $2.4M With Broker Darren Casamassima
SOLDRetail

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

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

Darren Casamassima

Lee & Associates

Broker

$91.6M

vol

15 deals

Broker
T
TrustSeller

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