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10978 Wilkins Ave, Westwood...

Brennen Hakimian Acquires Development Site In Westwood For $3.53M
SOLDDevelopment Site

Brennen Hakimian Acquires Development Site In Westwood For $3.53M

10978 Wilkins Ave, Westwood, Los Angeles, CA, USA

$3,530,000

$160/SF

Building Size

22,000 SF

Asset Type

Development Site

Closing

Jul 27, 2020

AI

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

Michael Monempour

Lyon Stahl Investment Real Estate

Broker

$375.9M

vol

85 deals

Broker
Kidder Mathews
Kidder MathewsBrokerage

Brennen Hakimian

Buyer

$54.7M

vol

6 deals

Buyer

Temkin Family

Seller

$9.1M

vol

2 deals

Seller

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

4.49%

Cash-on-Cash

-1.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93