Crown Equity Sells Retail Property In West Hollywood For $15M
SOLD
$15,000,000
California
See Similar DealsRetail6,000 SF
Sold 10/22/2021
SOLD
Crown Equity Sells Retail Property In West Hollywood For $15M
450 North Robertson Boulevard, West Hollywood, CA, USA
See Similar DealsRetail6,000 SF
Sold 10/22/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$2,500
Total Square Footage:6,000 SF
Transaction Type:Sale
A retail property located at 450 N. Robertson Blvd. in West Hollywood has been sold in a recent transaction. The property spans 6,000 square feet and was sold for a price of $15,000,000, resulting in a price per square foot of $2,500. The seller of the property was Crown Equity, represented by Michael Shabani. The buyer's representatives in the deal were Carine Mamann and Kazuko Morgan from Cushman & Wakefield.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,000,000
- Date: 10/22/2021
- Address: 450 N. Robertson Blvd.
- Market: West Hollywood
This transaction showcases the successful collaboration between Crown Equity and the buyer's representatives, Carine Mamann and Kazuko Morgan from Cushman & Wakefield. The sale of the retail property at 450 N. Robertson Blvd. highlights the vibrant real estate market in West Hollywood.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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