Updated Oct 29, 2024
Gefin Investments LLC Acquires Development Site In Bel Air/Brentwood Adjacent For $2.8M
11370 Ovada Place, Los Angeles, CA 90049, USA
$2,800,000
$524/SF
Building Size
5,341 SF
Asset Type
Development Site
Closing
Feb 13, 2020
About this deal
AI
A development site located at 11370 Ovada Pl in the Bel Air/Brentwood Adjacent market has been sold for $2,800,000. The property, with a building square footage (BSF) of 13,080, is slated for the construction of 10 luxurious townhomes. The price per building square footage (PPBSF) is estimated at $214.07, while the price per unit (PPU) stands at $280,000.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $2,800,000
- Building Square Footage (BSF): 13,080
- Price per Building Square Footage (PPBSF): $214.07
- Number of Units: 10
- Price per Unit (PPU): $280,000
The buyer of the property is Gefin Investments LLC. The broker representing Gefin Investments LLC in this deal is Michael Monempour.
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93