TTM Real Estate Capital & JAM Capital Real Estate Acquire Retail Property In West Hollywood For $10.6M
SOLD
$10,600,000
California
See Similar DealsRetail15,875 SF
Sold 03/29/2019
SOLD
TTM Real Estate Capital & JAM Capital Real Estate Acquire Retail Property In West Hollywood For $10.6M
501 North La Cienega Boulevard, West Hollywood, CA 90048, USA
See Similar DealsRetail15,875 SF
Sold 03/29/2019
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$667
Total Square Footage:15,875 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 501 N La Cienega Blvd in West Hollywood. The deal was a sale, with Justin Mateen and Tyler Mateen as the individuals featured in the associated image on Instagram. The transaction took place on 03/29/2019 and the property was purchased for a total price of $10.6 million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10.6 million
- Square Footage: 15,875
- Price per Square Foot: $667
- Address: 501 N La Cienega Blvd
- Market: West Hollywood
The buyers of the property were TTM Real Estate Capital & JAM Capital Real Estate, while the seller was Kaballah Center. Representing the deal on the buyer's side was Tom Lagos from JLL. It's worth noting that the transaction was an all-cash deal and also included 2 billboards.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$565,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,659.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,249.41
Annual Debt Service$602,992.89
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