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10985 Bellagio Road, Los An...

Weston Littlefield & Alex Howe Acquire Development Site In Bel Air For $7M
SOLDDevelopment Site

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

Weston Littlefield

Compass

Broker

$195.7M

vol

13 deals

Broker

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

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93