Updated Oct 28, 2024
Hatchspaces Acquires Development Site On Pico Boulevard In West LA
11069 West Pico Boulevard, Los Angeles, CA 90064
$10,800,000
$135/SF
Building Size
80,000 SF
Asset Type
Development Site
Closing
Jul 1, 2020
About this deal
AI
The development site located at 11069 Pico Boulevard in West LA has been sold. The property, owned by Nancy Rosenbloom, was purchased by Hatchspaces for a total of $10,800,000. The site has a building size of 80,000 square feet and a price per square foot of $135. The transaction was facilitated by brokers Paul Darrow and Kevin Green from THG Multifamily, representing Marcus Millichap.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,800,000
- Address: 11069 Pico Boulevard, West LA
- Market: West LA
- Buyer: Hatchspaces
- Seller: Nancy Rosenbloom
- Brokers: Paul Darrow & Kevin Green (THG Multifamily) - Marcus Millichap
- Building Size: 80,000 square feet
- Price per Square Foot: $135
The sale of the property was finalized on 07/01/2021. Paul Darrow and Kevin Green, representing THG Multifamily at Marcus Millichap, played a crucial role in facilitating the transaction.
On the Map
$10,800,000
$135/SF
Development Site
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Players
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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93