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4047 Lincoln Blvd, Marina d...

Michael Sarlo Acquires Retail Property On Lincoln Blvd In Los Angeles For $3.8M
SOLDRetail

Michael Sarlo Acquires Retail Property On Lincoln Blvd In Los Angeles For $3.8M

4047 Lincoln Blvd, Marina del Rey, California 90292, United States

$3,800,000

$401/SF

Building Size

9,467 SF

Asset Type

Retail

Closing

Nov 17, 2021

AI

Located at 4047-4051 Lincoln Blvd. in Los Angeles, this retail property was recently sold in a transaction on November 17, 2021. The property spans across 9,467 square feet and was sold for a total price of $3,800,000 at a price per square foot of $401. The buyer, Michael Sarlo, acquired the property from the seller, Darlene Marks.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $3,800,000
  • Address: 4047-4051 Lincoln Blvd., Los Angeles
  • Market: Los Angeles

Gabe Brown and Greg Astor from First Property Realty represented both parties, acting as the brokers in this transaction. Their expertise and knowledge contributed to the successful completion of the deal.

Players

Gabriel Brown

JLL

Broker

$7.2M

vol

5 deals

Broker

Michael Sarlo

Buyer

$6.2M

vol

2 deals

Buyer

Marina Del Rey 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

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93