Mike Tawil Acquires Retail Property In Los Angeles From Rush Patel For $3.02M
SOLD
$3,020,000
California
See Similar DealsRetail6,452 SF
Sold 12/08/2020
SOLD
Mike Tawil Acquires Retail Property In Los Angeles From Rush Patel For $3.02M
7117 Vermont Ave, Los Angeles, CA, USA
See Similar DealsRetail6,452 SF
Sold 12/08/2020
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$468
Total Square Footage:6,452 SF
Transaction Type:Sale
A retail property located at 7117 Vermont Ave. in Los Angeles has been sold in a transaction on 12/08/2020. The property, with a size of 6,452 square feet, was sold for a price of $3,020,000, resulting in a price per square foot of $468. The transaction was completed with a 5.9% capitalization rate. Chris Comfort represented both the buyer and the seller as the broker.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,020,000
- Address: 7117 Vermont Ave., Los Angeles
- Size: 6,452 square feet
- Price per Square Foot: $468
- Capitalization Rate: 5.9%
Mike Tawil was the buyer in this transaction, while Rush Patel acted as the seller. The deal was successfully facilitated by Chris Comfort from the Comfort Agency.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$161,066.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,729.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,316.34
Annual Debt Service$171,796.09
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