Danny Lee Acquires Retail Property On Manchester Ave. In Los Angeles For $5.5M
520 E Manchester Ave, Los Angeles, Ca, Usa
$5,500,000
$647/SF
Building Size
8,500 SF
Asset Type
Retail
Closing
Nov 7, 2021
AI
The property asset involved in this transaction is a retail space located at 520 E. Manchester Ave. in the Los Angeles market. The sale price for this asset was $5,500,000, encompassing a total area of 8,500 square feet, which equates to a price per square foot of $647.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,500,000
- Square Footage: 8,500
- Price per Square Foot: $647
- Buyer: Danny Lee
- Seller: Greg Baldwin
- Broker: Joe Nelson - Matthews Real Estate Investment Services
This transaction highlights the involvement of key individuals including buyer Danny Lee and seller Greg Baldwin, with representation provided by broker Joe Nelson from Matthews Real Estate Investment Services, facilitating the deal for both parties.
Players
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93