CLOSED ESCROW
MULTI-TENANT RETAIL
1612 N. Cahuenga Blvd
LOS ANGELES, CA 90028
SALE PRICE:
CAP RATE CURRENT/PRO FORMA:
BUILDING SIZE:
LOT SIZE:
PRICE PER SF BUILDING:
PRICE PER SF LAND:
YEAR BUILT:
ZONING:
$6,000,000
5.01%/6.78%
7,200 SF
7,199 SF
$833
$833
1922
LAC4
DEAL HIGHLIGHTS:
-
Record Breaking Price Per SF "Cahuenga Corridor"
-
Negotiated a Five Year Sale Lease Back
-
Multiple Offers
-
$500,000 Pass Through Non-Contingent Offer
ASSET HIGHLIGHTS
-
Over 35% Upside in Rents
-
Month to Month Leases ( 2 Tenants )
-
New Sale Lease Back Between Tenant and Owner For $25,000 Per Month 5 Years with 5 Year Option - 3% Annual Increases
-
Multiple Liquor Licenses for La Velvet Margarita
-
Prime Cahuenga Corridor Location
THE ASSET
The Hirth group is please to announce another successful closing. Through our extensive marketing we were able to procure multiple offers resulting in a non-contingent offer with $500,000 passed through to the seller upon the opening of escrow. This was a RECORD BREAKING price per SF for the famous "Cahuenga Corridor" of $833. Additionally our team was able to successfully negotiate a sale lease back between the seller and the new owners.