John Horst Acquires Westwood Boulevard Property In Los Angeles For $5.25M
2266 Westwood Boulevard & 2274 Westwood Boulevard
$5,250,000
$482/SF
Building Size
10,880 SF
Asset Type
Retail
Closing
Apr 17, 2024
AI
The property located at 2266 - 2274 Westwood Boulevard in Los Angeles, with a total of 5,440 square feet, was sold as an owner/user asset transaction. The deal was finalized for the full asking price of $5,250,000, equating to a price per square foot of $965.
Summary of transaction details:
- Property Type: Owner/User
- Transaction Amount: $5,250,000
- Buyer: John Horst - Horst Family Properties, LLC
- Seller: David, Nancy & Rosa Safai - Sheil Family Trust
- Buyer's Representative: Evan Weiss - Weiss-CRE & Michael Lushing - Lushing Realty Advisors
- Seller's Representative: Martin McDermott - Method Commercial
- Square Footage: 5,440 SF
- Price per Square Foot: $965
The buyer, John Horst of Horst Family Properties, LLC, expressed gratitude to all involved in the successful completion of the transaction. Special recognition was given to Marc Iacono for his exceptional efforts in securing the necessary financing and lending for the acquisition.
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93