Eun Sung Presbyterian Acquires Retail Property In Los Angeles For $3.03M
2531 West Jefferson Boulevard
$3,030,000
$305/SF
Building Size
9,909 SF
Asset Type
Retail
Closing
Jun 10, 2024
AI
The retail property located at 2531 West Jefferson Boulevard in Los Angeles was sold for $3,030,000. Spanning 9,909 square feet, the property was transacted at a price of $306 per square foot. The buyer of the property was Myong Wang representing Eun Sung Presbyterian, while the seller was Charles Azonwu. The buyer was represented by Jae Yoo from Cushman & Wakefield, and the seller was represented by Dane Garson, Elizabeth Clark, and Jay Martinez from Kidder Mathews.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $3,030,000
- Buyer: Myong Wang - Eun Sung Presbyterian
- Seller: Charles Azonwu
- Buyer's Rep: Jae Yoo - Cushman & Wakefield
- Seller's Rep: Dane Garson, Elizabeth Clark & Jay Martinez - Kidder Mathews
- Address: 2531 West Jefferson Boulevard
- Market: Los Angeles
- SF: 9,909
- PPSF: $306
The transaction involved key individuals such as Elizabeth Clark, Jae Yoo, Jay Martinez, and Dane Garson. Each party played a crucial role in facilitating the successful sale of the retail property. Myong Wang from Eun Sung Presbyterian emerged as the buyer, while Charles Azonwu acted as the seller. The deal's smooth execution was ensured by the buyer's representative, Jae Yoo from Cushman & Wakefield, and the seller's representatives, Dane Garson, Elizabeth Clark, and Jay Martinez from Kidder Mathews.
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
5.24%
Cash-on-Cash
-1.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93