Updated Dec 21, 2023
LAAATeam Acquires Development Site In Valley Village For $1.15M
12001 Magnolia Blvd, Valley Village, CA, USA
$1,150,000
$188/SF
Building Size
6,094 SF
Asset Type
Development Site
Closing
Mar 18, 2021
About this deal
AI
An R3-1 zoned development site located at 12001 Magnolia Blvd in Valley Village has been sold for $1,150,000. The property spans 6,094 square feet and offers the potential for development with its zoning designation. The sale includes 16 units, resulting in a per unit price of $71,875. The price per buildable square footage (PPBSF) is estimated at $188.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,150,000
- Address: 12001 Magnolia Blvd
- Market: Valley Village
- Asset Type: R3-1 Zoned
The transaction was facilitated by the collaborative efforts of Filip Niculete, Glen Scher, Arash Memary, and Marije Kruythoff from the LAAATeam. These brokers represented the parties involved in the deal to ensure a smooth transaction.
On the Map
$1,150,000
$188/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93