Avondale Equities & Oh Polly USA, Inc. Acquire Retail Property On Melrose Avenue In Los Angeles For $6.85M
SOLD
$6,850,000
California
See Similar DealsRetail19,266 SF
Sold 12/22/2023
SOLD
Avondale Equities & Oh Polly USA, Inc. Acquire Retail Property On Melrose Avenue In Los Angeles For $6.85M
7975 Melrose Avenue, 7977 Melrose Avenue & 8001 Melrose Avenue
See Similar DealsRetail19,266 SF
Sold 12/22/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$355
Total Square Footage:19,266 SF
Transaction Type:Sale
The retail property located at 7975-7977 & 8001 Melrose Avenue in Los Angeles has been sold for a price of $6,850,000. The property spans across 6,422 square feet, resulting in a price per square foot of $1,067.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,850,000
- Square Footage: 6,422
- Price per Square Foot: $1,067
- Market: Los Angeles
The buyers of the property are Avondale Equities & Oh Polly USA, Inc. Representing the seller in this transaction were Ed Sachse, Jaysen Chiaramonte, and Jack Nathan from Kennedy Wilson Property Services.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$365,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,336.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,472.49
Annual Debt Service$389,669.94
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