Ishagh Djavaheri Acquires Development Site In Westwood, Los Angeles For $2.5M

Located at 10621 Wilkins Ave in Westwood, Los Angeles, this development site was recently sold in a competitive transaction. The property spans 6,500 square feet and was sold for $2,526,000, which is $527,000 over the asking price. The price per buildable square foot (PPBSF) is $389, indicating a lucrative investment opportunity.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $2,526,000
• Buyer: Ishagh Djavaheri
• Seller: Marian J Westrem
• Broker: Michael Monempour & David Saghian - Kidder Mathews
• Date: 08/22/2022
• Market: Westwood, Los Angeles
• BSF: 6,500
• PPBSF: $389

Represented by Michael Monempour and David Saghian from Kidder Mathews, the buyer, Ishagh Djavaheri, submitted an all-cash non-contingent offer on the first day. This transaction demonstrates the high demand and competitive nature of the Westwood market, as the property sold significantly above the initial asking price.