Private Family Fund Acquires Property At 2390 Crenshaw BLVD Torrance For $16.9M With Eric Vu As Seller's Rep
SOLD
$16,900,000
California
See Similar DealsRetail28,000 SF
SOLD
Private Family Fund Acquires Property At 2390 Crenshaw BLVD Torrance For $16.9M With Eric Vu As Seller's Rep
2390 Crenshaw BLVD, Torrance, CA, 9...
See Similar DealsRetail28,000 SF
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$603
Total Square Footage:28,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a multi-tenant retail center located at 2390 Crenshaw Blvd, Torrance, CA. The retail center, known as Pacific Plaza, spans 28,000 square feet and is situated in the Torrance market. It was acquired by a private family fund for $16,900,000. The property is currently leased to tenants including Woori Bank, Subway, and The UPS Store.
Summary of transaction details:
- Property Type: Multi-tenant retail center
- Transaction Amount: $16,900,000.00
- Address: 2390 Crenshaw Blvd, Torrance, CA
- Market: Torrance
- Square Footage: 28,000 SF
- Seller's Representative: Eric Vu
- Buyer: Private Family Fund
Eric Vu, associated with Newport Beach-based Anchor Point Capital, facilitated the transaction. The seller remains undisclosed. The tenants at the property add to its profile as a retail center with diverse offerings for the community.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$901,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,042.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,114.62
Annual Debt Service$961,375.46
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