PJ Spring Properties LLC Acquires Development Site In West LA For $10M
12001 Santa Monica Blvd, West LA, CA, USA
$10,000,000
$186/SF
Building Size
53,754 SF
Asset Type
Development Site
Closing
Feb 4, 2021
AI
A development site located at 12001 Santa Monica Blvd. in West LA has been sold in a recent transaction. The property, with a sale price of $10,000,000, offers a buildable square footage (BSF) of 53,754. The price per buildable square footage (PPBSF) for this development site is $186.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Address: 12001 Santa Monica Blvd.
- Market: West LA
The buyer, PJ Spring Properties LLC, acquired the property from Wilson H. Park, Hyesun Park, and Jack Silverman. The transaction was facilitated by brokers Aaron Goodman, Martin Agnew, and Ryan Serling.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93