Weston Littlefield & Alex Howe Acquire Development Site In Bel Air For $7M
10985 Bellagio Road, Los Angeles, California 90077, United States
$7,000,000
$247/SF
Building Size
28,281 SF
Asset Type
Development Site
Closing
Jun 30, 2022
AI
Located in the upscale neighborhood of Bel Air, this development site on 10985 Bellagio Road has recently been sold. Represented by Weston Littlefield and Alex Howe, the buyer acquired the property for a transaction amount of $7,000,000. The site spans across a total square footage of 28,281, resulting in a price per square foot of $247.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Address: 10985 Bellagio Road
- Market: Bel Air
The buyer, represented by Weston Littlefield and Alex Howe, successfully closed the deal for this development site. On the other side, the seller was represented by Alex Howe and Weston Littlefield, who worked under the Aaron Kirman Group. This transaction marks a significant investment in the Bel Air market.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93