Makhani Family Acquires Retail Property In Hollywood For $2.5M
SOLD
$2,500,000
California
See Similar DealsRetail3,000 SF
Sold 02/16/2022
SOLD
Makhani Family Acquires Retail Property In Hollywood For $2.5M
6202 Santa Monica Boulevard, Los Angeles, California 90038, United States
See Similar DealsRetail3,000 SF
Sold 02/16/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$833
Total Square Footage:3,000 SF
Transaction Type:Sale
The retail property located at 6202 Santa Monica Blvd. in Hollywood has been sold in a recent transaction. The property spans 3,000 square feet and was sold for a price of $2,500,000. The sale price per square foot was approximately $833. The transaction took place on 02/16/2022. The buyer of the property is the Makhani Family, while the seller is Greg Morris.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 6202 Santa Monica Blvd.
- Market: Hollywood
- Buyer: Makhani Family
- Seller: Greg Morris
- Broker: Elan Kermani - CityStreet Commercial
Elan Kermani from CityStreet Commercial represented both parties in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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