Updated Dec 21, 2023
Jeff Lee Acquires Development Site In Miracle Mile For $1.25M
1009 S Cochran Ave, Central LA, Los Angeles, CA, USA
$1,250,000
$141/SF
Building Size
8,825 SF
Asset Type
Development Site
Closing
Mar 15, 2021
About this deal
AI
Located in Miracle Mile, the development site at 1009 S. Cochran Ave. has been sold in a recent transaction. The property spans 8,825 square feet and is designated for development purposes.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Address: 1009 S. Cochran Ave.
- Market: Miracle Mile
- Buyer: Jeff Lee
- Seller: Marlene Aframian
The deal was facilitated by the brokers Jason Tuvia and Carter Kruse. They played a crucial role in representing the buyer and seller respectively.
NOTE: No additional information is available regarding financing details or any other notable aspects of the transaction.This transaction demonstrates the active real estate market in Miracle Mile and the interest in development opportunities in the area.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93