Brennen Hakimian Acquires Development Site In Westwood For $3.53M
SOLD
California
See Similar DealsDevelopment Site22,000 SF
Sold 07/28/2020
SOLD
Brennen Hakimian Acquires Development Site In Westwood For $3.53M
10978 Wilkins Ave, Westwood, Los Angeles, CA, USA
See Similar DealsDevelopment Site22,000 SF
Sold 07/28/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$160
Total Square Footage:22,000 SF
Transaction Type:Sale
Located in Westwood, the development site at 10978 Wilkins Ave was sold on July 28, 2020. The property, zoned as R4-1L, offers a total of 22,000 square feet of space. The transaction was handled by Brennen Hakimian, who purchased the site for a total price of $3,530,000 from the Temkin Family. The sale was facilitated by broker Michael Monempour.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,530,000
- Built Square Footage: 22,000
- Price per Built Square Foot: $160
- Address: 10978 Wilkins Ave
- Market: Westwood
With Brennen Hakimian as the buyer and the Temkin Family as the seller, the sale of the development site at 10978 Wilkins Ave showcases a successful real estate transaction in Westwood. The deal was facilitated by Brennen's representative, Michael Monempour.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$188,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,541.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,734.00
Annual Debt Service$200,808.01
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