Updated Oct 28, 2024
Patch Of Land Lending Provides $1.71M Loan For Development Site In Vermont Square
4210 Dalton Avenue, Vermont Square, Los Angeles, CA, USA
$1,710,000
$599/SF
Building Size
2,854 SF
Asset Type
Development Site
Closing
Jun 22, 2020
About this deal
AI
A development site located at 4210 Dalton Ave in Vermont Square was recently involved in a closed transaction. The property, owned by Pyramid Investments, is situated in the market of Vermont Square. The asset type of this property is a development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 06/22/2021
- Loan Amount: $1,710,000
- Building Square Footage: 7,860
- Loan Term: 24 Months
The loan for this transaction was provided by Patch of Land Lending, with Tameer Orevi representing the lender. The loan amount is $1,710,000, and it is considered mid-construction financing at 106% loan-to-cost (LTC) based on the cost to date. The loan term is 24 months, and there is no prepayment penalty.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.28%
Cash-on-Cash
-2.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93