Fashion District, Downtown LA Retail Property Acquired For $8.75M
310 East 9th Street, Los Angeles, CA 90015, USA
$8,750,000
$556/SF
Building Size
15,734 SF
Asset Type
Retail
Closing
Jun 20, 2019
AI
The Sale of a Ground Lease with 9 years remaining was recently completed in the Fashion District of Downtown Los Angeles. The property, located at 310 E 9th St, is a retail asset with a total square footage of 15,734. The transaction took place on June 21, 2019, and the buyer purchased the land only for a price of $8,750,000. The price per square foot was approximately $556.12.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,750,000
- Square Footage: 15,734
- Address: 310 E 9th St
- Market: Fashion District, Downtown Los Angeles
The brokers involved in the sale were Brandon Michaels and Ben Brownstein. They represented the buyer in this transaction. The deal was facilitated by Ben Brownstein, a representative from the buyer's side. No additional details were provided regarding the parties involved in the deal.
Players
Azusa 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
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93