Kamran Paydar & Laurie Lustig Bower Of CBRE Facilitate $4.9M Sale Of Multifamily Development Site In Los Angeles
10285 Missouri Avenue & 1814 Fox Hills Drive
$4,900,000
$289/SF
Building Size
16,900 SF
Asset Type
Development Site
Closing
May 2, 2024
AI
An 8,450-square-foot multifamily development site in Century City, West Los Angeles, located at 10285 Missouri Avenue & 1814-1824 Fox Hills Drive, was recently sold for $4,900,000. The buyers, 416 Development Group, LLC & Fox Hills Development Group, acquired the property from the seller, 1814 Fox Hill Drive, LLC. The sale price translates to approximately $580 per square foot.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,900,000
- Address: 10285 Missouri Avenue & 1814-1824 Fox Hills Drive
- Market: Los Angeles
Kamran Paydar and Laurie Lustig-Bower from CBRE represented the seller, 1814 Fox Hill Drive, LLC, in this transaction. The buyers, 416 Development Group, LLC & Fox Hills Development Group, aim to develop a 20-unit apartment building on the site. The location's proximity to various retail amenities and the Century City business district presents an attractive opportunity for the envisioned live-work-play environment.
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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93