Updated Dec 4, 2024
BOLOUR Associates Inc. Acquires Retail Strip Center In Los Angeles For $4.45M
5151 West Pico Boulevard
$4,450,000
$595/SF
Building Size
7,474 SF
Asset Type
Retail
Closing
Feb 21, 2024
About this deal
AI
The retail strip center located at 5151 West Pico Boulevard in Los Angeles was sold for $4,450,000. Spanning 7,474 square feet, the asset was acquired by Mark Bolour's company, BOLOUR Associates Inc., strategically positioned near a planned 30-apartment unit development site.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $4,450,000
- Square Footage: 7,474
- Price per Square Foot: $595
- Address: 5151 West Pico Boulevard, Los Angeles
- Market: Los Angeles
- Buyer: Mark Bolour - BOLOUR Associates Inc.
- Broker: Nick Virzi - Triad Management Systems
Mark Bolour, the CEO of BOLOUR Associates Inc., highlighted the attractive location of the retail center, noting the blend of historical neighborhoods and retail outlets. The acquisition aligns with the company's strategic vision of expanding its presence in Los Angeles for future development opportunities.
Los Angeles 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
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93