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T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $3.2 MILLION SALE OF MULTIFAMILY PROPERTY IN WEST HOLLYWOOD, CA


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Closed: December 10, 2021

West Hollywood – WESTMAC Commercial Brokerage Company has arranged the sale of 7611 N. Lexington Avenue in West Hollywood, California for $3,200,000.

7611 N. Lexington Avenue is a two-story, 8-unit apartment building in one of the most sought-after rental locations, West Hollywood. The property is comprised of approximately 6,918 square feet of improvements on approximately 6,534 square feet of land with an excellent unit mix of 4 one-bedroom, one-bathroom apartments units and 4 two-bedroom, one-bathroom apartment units. Building amenities include ten parking spaces, community laundry, and storage area. The property sold for $400,000 per unit at 4.0% cap rate, and 16.5 GRM.

“This is a well-kept and low-maintenance property in a highly desirable rental market,” said T.C. Macker. “It made sense for our Buyer who was in a 1031-exchange.”

West Hollywood is known for its premier nightlife, restaurants, retail and its proximity to several employment centers and business services.

T.C. Macker, CCIM, Christian C. Holland, Woody Cook, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Buyer. Katia Miramontes of The Agency represented the Seller.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $6.1 MILLION SALE OF FAST FOOD RESTAURANT PROPERTY IN SANTA MONICA, CA


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Closed: December 09, 2021

Santa Monica – WESTMAC Commercial Brokerage Company has arranged the sale of 2425 Wilshire Boulevard in Santa Monica, California for $6,100,000.

An investor has purchased the 3,260 square foot single story restaurant building. The property is occupied by Del Taco who are on a long term NNN ground lease and features a rare drive through for Santa Monica. Cap rate was 3.48%.

“This was a generational purchase opportunity to acquire a trophy single tenant absolute NNN corporate guaranteed ground leased asset located in a premiere part of Santa Monica,” said T.C. Macker, CCIM. “It was ideal for our buyer who was in a 1031-exchange.”

2425 Wilshire Boulevard is located near several popular shopping destinations within the city of Santa Monica.

T.C. Macker, CCIM, Christian C. Holland, Woody Cook, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Buyer. Brandon Michaels and Steven Schecter of Marcus & Millichap represented the Seller.