Cobby Pourtavosi And Pouya Abdi Acquire Retail Condo In Inglewood For $29M
3150 Imperial Highway, Inglewood, CA, USA
$29,000,000
$299/SF
Building Size
97,000 SF
Asset Type
Retail
Closing
Feb 27, 2020
AI
A retail condo located at 3100-3150 Imperial Hwy in Inglewood has been sold for $29,000,000. The property spans 97,000 square feet and has a price per square foot of $298.97. It consists of 4 units and was sold for a price per unit of $7,250,000. The cap rate for this transaction is 6.5. The sale took place on 02/28/2020.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $29,000,000
- Square Footage: 97,000
- Price per Square Foot: $298.97
- Units: 4
- Price per Unit: $7,250,000
- Cap Rate: 6.5
- Market: Inglewood
The buyer of this property is Cobby Pourtavosi and Pouya Abdi. They successfully closed the deal within 30 days, utilizing a 1031 Exchange. The seller of the property is CIM, represented by Avi Shemesh.
Inglewood 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93