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10608 West Pico Boulevard, ...

Brennen Hakimian Acquires Land On West Los Angeles For $2.9M
SOLD

Brennen Hakimian Acquires Land On West Los Angeles For $2.9M

10608 West Pico Boulevard, Los Angeles, CA, USA

$2,900,000

$528/SF

Building Size

5,485 SF

Asset Type

Closing

Oct 8, 2021

AI

10608 W. Pico Blvd. in West Los Angeles was recently sold for $2,900,000. The property is a land asset with a size of 5,485 square feet, resulting in a price per square foot of $528. The sale involved the buyer, Brennen Hakimian, and the sellers, Steven Schulman and Jay Schulman.

Summary of transaction details:

The transaction was facilitated by brokers Michael Monempour from Kidder Mathews and Lauren Aboulafia and Seth Grossman from Meridian Capital Group.

Players

Michael Monempour

Lyon Stahl Investment Real Estate

Broker

$375.9M

vol

85 deals

Broker
Kidder Mathews
Kidder MathewsBrokerage

Brennen Hakimian

Buyer

$54.7M

vol

6 deals

Buyer

Los Angeles CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93