David Pourbaba's 4D Development Acquires Development Site In DTLA For $10.25M
SOLD
$10,250,000
+ 2
California
See Similar DealsDevelopment Site25,787 SF
Sold 09/04/2019
SOLD
David Pourbaba's 4D Development Acquires Development Site In DTLA For $10.25M
1201 S Los Angeles St, Fashion District, Los Angeles, CA, USA
See Similar DealsDevelopment Site25,787 SF
Sold 09/04/2019
+ 2
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$397
Total Square Footage:25,787 SF
Transaction Type:Sale
Located at 1201 S Los Angeles St in DTLA, this development site was recently sold in a closed transaction. The property, owned by 1201 S Los Angeles Property LLC, was purchased by David Pourbaba from 4D Development & Investments. The deal was facilitated by brokers Jonathan Farasat, Alex Kozakov, Patrick Wade, and Matthew Greenberg. The transaction took place on September 4, 2019, and the sale price for the property was $10,250,000.
Summary of Transaction Details
- Property Type: Development site
- Transaction Amount: $10,250,000
- Square Footage: 25,787
- Price Per Square Foot: $398
- Address: 1201 S Los Angeles St, DTLA
- Market: DTLA
The property was sold by 1201 S Los Angeles Property LLC and purchased by David Pourbaba - 4D Development & Investments. Jonathan Farasat, Alex Kozakov, Patrick Wade, and Matthew Greenberg served as the brokers in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,416.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,590.23
Annual Debt Service$583,082.75
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