Majed Owainat Acquires Mixed-use Property In Boyle Heights For $1.2M
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This Mixed-use property located in CA was sold for $1,200,000 about 2 years ago. The broker of the deal was Dana Coronado
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- Location3010 East 1st Street, Los Angeles, CA 90063
- Sale Price$1,200,000$275 PPSF
- Area4,356 SF
- Asset TypeMixed-use
- Parties1 Broker, 1 Agency
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Deal Summary
SALE
IMAGE: Dana Coronado
DATE: 01/06/2022
ADDRESS: 3010 E. 1st St.
MARKET: Boyle Heights
ASSET TYPE: Mixed-use
BUYER: Majed Owainat
SELLER: Socorro Varela & Patricia Varela
BROKER: Dana Coronado (@DanaCoronadoIncomePropertiesLA) - KW Commercial
SALE PRICE: $1,200,000
SF: 4,356 ~ PPSF: $275
NOTE FROM BROKER: This Mixed Use property had been in the same family for over 40 years, & the Seller was finally ready to cash out. After one unit became vacant, it was the perfect time to sell. This was an off market deal with escrow closing at 96% of the asking price & in less than 30 days to a cash Buyer who paid 13.16 GRM & $275/SF with over 60% upside left in the rents. Dana has been selling mixed use, commercial & multifamily property in Boyle Heights & Northeast LA for over 15 years & especially loves selling value add deals, often before they hit the market. To be added to her list of principals or discuss opportunities in the market, email her at [email protected] with your name & contact info.
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3010 East 1st Street
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