Eleventh & Manhattan Group Acquires Retail Property In Arts District For $6M
614 Mateo Street, Los Angeles, California 90021, United States
$6,000,000
$1,071/SF
Building Size
5,600 SF
Asset Type
Retail
Closing
Jun 9, 2022
AI
Located in the Arts District, the retail property at 614 Mateo St. has been sold in a recent transaction. The property spans 5,600 square feet and was acquired by Eleventh & Manhattan Group for a total sale price of $6,000,000. This translates to a price per square foot of $1,071. The sale took place on June 10, 2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,000,000
- Address: 614 Mateo St.
- Market: Arts District
The buyer, Eleventh & Manhattan Group, successfully purchased the property from the seller, Inception REIT represented by Richard Acosta. The transaction was facilitated by Rose O'Sullivan from NAI Capital, who represented the buyer.
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93