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7851 Melrose Avenue, Los An...

Alex Lahijani Acquires Retail Property On Melrose Avenue In Los Angeles For $2.5M
SOLDRetail

Alex Lahijani Acquires Retail Property On Melrose Avenue In Los Angeles For $2.5M

7851 Melrose Avenue, Los Angeles, CA 90046

$2,500,000

$335/SF

Building Size

7,463 SF

Asset Type

Retail

Closing

Sep 15, 2021

AI

7851 Melrose Avenue, a retail property located in Los Angeles, was recently sold in a transaction handled by William B. Althouse of the brokerage firm. The property spans 7,463 square feet and was sold for a price of $2,500,000, resulting in a price per square foot of $334.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,500,000
  • Address: 7851 Melrose Avenue
  • Market: Los Angeles

Alex Lahijani acted as the buyer in this transaction, while Linda Marden served as the seller. William B. Althouse, from the brokerage firm, represented both parties in the deal.

Players

William Althouse

WESTMAC Commercial Brokerage Company

Broker

$84.4M

vol

13 deals

Broker

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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93