Danny Lee Acquires Retail Property On Manchester Ave. In Los Angeles For $5.5M
SOLD
$5,500,000
California
See Similar DealsRetail8,500 SF
Sold 11/07/2021
SOLD
Danny Lee Acquires Retail Property On Manchester Ave. In Los Angeles For $5.5M
520 E Manchester Ave, Los Angeles, Ca, Usa
See Similar DealsRetail8,500 SF
Sold 11/07/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$647
Total Square Footage:8,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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