Ventana Ventures Acquires Retail Property On Melrose Ave In Los Angeles From Gintel Family For $5M
SOLD
$5,000,000
California
See Similar DealsRetail9,000 SF
Sold 02/24/2023
SOLD
Ventana Ventures Acquires Retail Property On Melrose Ave In Los Angeles From Gintel Family For $5M
5901 Melrose Ave
See Similar DealsRetail9,000 SF
Sold 02/24/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$555
Total Square Footage:9,000 SF
Transaction Type:Sale
The retail property located at 5901 Melrose Ave in Los Angeles has been sold in a closed transaction. The property spans 9,000 square feet and was sold for a total price of $5,000,000, resulting in a price per square foot of $556. The transaction took place on 02/24/2023.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Square footage: 9,000
- Price per square foot: $556
- Address: 5901 Melrose Ave, Los Angeles
- Market: Los Angeles
The buyer of the property is Ventana Ventures, while the seller is the Gintel Family. The deal was facilitated by brokers Ben Silver from JLL and Evan Jurgensen from Lee & Associates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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