Brad Umansky & Lance Mordachini Of Progressive Real Estate Partners Facilitate $3.5M Sale Of Retail Center In Los Angeles
728 West Vernon Avenue
$3,500,000
$555/SF
Building Size
6,300 SF
Asset Type
Retail
Closing
May 7, 2024
AI
The retail center located at 728 West Vernon Avenue in Los Angeles was sold for $3.5 million. This property spans 6,300 square feet and was acquired by a local investor. The transaction was facilitated by Brad Umansky and Lance Mordachini from Progressive Real Estate Partners. Tenants in the retail center include 7-Eleven, Boost Mobile, and a laundromat.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $3,500,000
- Address: 728 West Vernon Avenue
- Market: Los Angeles
- Square Footage: 6,300
- Brokers: Brad Umansky & Lance Mordachini - Progressive Real Estate Partners
The sale of the retail center at 728 West Vernon Avenue in Los Angeles involved a local investor and was managed by Brad Umansky and Lance Mordachini from Progressive Real Estate Partners. The property featured popular tenants such as 7-Eleven, Boost Mobile, and a laundromat, with both the buyer and seller based in Los Angeles County.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93