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914 N Fairfax Ave Retail Property Sells For $2.66M In West Hollywood I South Park Group & CityStreet Commercial Represented The Buyer And Seller

Property Image
SOLD
$2,660,000
Elan Kermani
Steve Ravan

California

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Retail4,932 SF
Sold 11/19/2019
the dealplayerscompscontact
Property Image
SOLD

914 N Fairfax Ave Retail Property Sells For $2.66M In West Hollywood I South Park Group & CityStreet Commercial Represented The Buyer And Seller

914 North Fairfax Avenue, West Hollywood, CA 90046, USA

See Similar Deals
Retail4,932 SF
Sold 11/19/2019
Elan Kermani
Steve Ravan
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$539
Total Square Footage:4,932 SF
Transaction Type:Sale

The retail property located at 914 N Fairfax Ave in West Hollywood / Fairfax Village has been sold in a closed transaction. The property, with a total area of 4,932 square feet, was purchased for a price of $2,660,000, resulting in a price per square foot of $539.33. The buyer of the property is 914 N Fairfax LLC, while the seller is GR Real Estate LLC. The transaction was facilitated by brokers Steve Ravan from South Park Group Commercial and Elan Kermani from CityStreet Commercial.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,660,000
  • Address: 914 N Fairfax Ave
  • Market: West Hollywood / Fairfax Village

This property sale was an owner-user transaction, with the buyer planning to occupy a portion of the retail and office space. The area surrounding this property has become a vibrant retail and food hub in West Hollywood and the Beverly Grove area. Some notable tenants in the vicinity include Blue Bottle Coffee, Malbon Golf, Aseop, Supreme, HUF, Jon and Vinny's, Badmaash Indian, and The Hundreds.

Players

Elan Kermani
Elan Kermani
9 deals$59.5M volume(310) 734-7772
BROKER
Steve Ravan
South Park Group
Steve Ravan
17 deals$83M volume
BROKER

Details

SOLD
IMAGE: Steve Ravan @steveravan & Elan Kermani @elankermani DATE: 11/19/2019 ADDRESS: 914 N Fairfax Ave MARKET: West Hollywood / Fairfax Village ASSET TYPE: Retail PRICE: $2,660,000 SF: 4,932 PPSF: $539.33 BUYER: 914 N Fairfax LLC SELLER: GR Real Estate LLC BROKERS: Steve Ravan - South Park Group Commercial @southparkgroup, Elan Kermani - CityStreet Commercial @citystreetcre NOTES: Owner User Sale - Buyer will be occupying a portion of the retail and office space. This stretch has evolved into a retail and food hub of West Hollywood and the Beverly Grove area to the South. Tenants include: Blue Bottle Coffee, Malbon Golf, Aseop, Supreme, HUF, Jon and Vinny's, Badmaash Indian and The Hundreds, just to name a few.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,450.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,609.76
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