Updated Dec 21, 2023
South Park Group Inc. Acquires Retail Property In Los Feliz For $2.9M
1824 Hillhurst Ave, Central LA, Los Angeles, CA, USA
$2,900,000
$1,315/SF
Building Size
2,204 SF
Asset Type
Retail
Closing
Apr 18, 2021
About this deal
AI
An owner user buyer has purchased a retail property located at 1824 Hillhurst Ave in Los Feliz. The property, a 1920s Craftsman restaurant, was sold by Steve Ravan of South Park Group Inc. for $2,900,000. The sale price translates to $1,315 per square foot for the 2,204 square foot property. Ravan had previously sold the property in 2015 for $2,200,000. The transaction took place on April 19, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,900,000
- Address: 1824 Hillhurst Ave
- Market: Los Feliz
In addition to this transaction, Tyler Strauss of Faris Lee Investments represented the seller in the deal. For more information on owner user or investment opportunities in the commercial real estate market, interested parties can contact Steve Ravan at (323) 782-1262 or [email protected].
Players
Los Angeles 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93