Updated Oct 29, 2024
1041-1049 N Martel Development Site In West Hollywood Sold For $6.4M By Martel House
1041 N Martel Ave, West Hollywood, CA 90046, USA
$6,400,000
$304/SF
Building Size
21,000 SF
Asset Type
Development Site
Closing
Aug 4, 2020
About this deal
AI
A development site located at 1041-1049 N Martel in West Hollywood has been sold for $6,400,000. The property spans 21,000 square feet and has a price per buildable square foot of $304.76. The sale was facilitated by the seller, Martel House, with the assistance of brokers Paul Jin and Alex Lombardo from The Sunset Team.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $6,400,000
- Address: 1041-1049 N Martel, West Hollywood
- Market: West Hollywood
- BSF: 21,000 square feet
- PPBSF: $304.76
- Seller: Martel House
- Broker: Paul Jin & Alex Lombardo from The Sunset Team
The sale of this development site was successfully executed with the expertise and guidance of Paul Jin and Alex Lombardo from The Sunset Team. They played a crucial role in facilitating the transaction and ensuring a smooth process for all parties involved.
Players
West Hollywood 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93