Eleventh & Manhattan Group Acquires Retail Property In Arts District For $6M
SOLD
$6,000,000
California
See Similar DealsRetail5,600 SF
Sold 06/10/2022
SOLD
Eleventh & Manhattan Group Acquires Retail Property In Arts District For $6M
614 Mateo Street, Los Angeles, California 90021, United States
See Similar DealsRetail5,600 SF
Sold 06/10/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,071
Total Square Footage:5,600 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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