Updated Oct 29, 2024
P&P Ktown Acquires Dev Site In South Westmoreland Avenue For $2.65M
1212 S Westmoreland Ave, Los Angeles, CA 90006, USA
$2,650,000
$6/SF
Building Size
381,520 SF
Asset Type
Development Site
Closing
Sep 3, 2020
About this deal
AI
The development site at 1212 S Westmoreland Avenue has been sold for $2,650,000. The property, with a total square footage of 38,152, was purchased by P&P Ktown from Johnny Ken. The transaction was facilitated by brokers Daniel Hirth & Alex Reyhan from HirthGroup.
Summary of transation details
- Property Type: Dev Site
- Transaction Amount: $2,650,000
- Address: 1212 S Westmoreland Avenue
- Seller: Johnny Ken
- Buyer: P&P Ktown
- Brokers: Daniel Hirth & Alex Reyhan @HirthGroup
- Total Square Footage: 38,152
The sale of this development site represents a significant milestone for P&P Ktown and showcases their continued investment in the real estate market. The expertise and guidance provided by brokers Daniel Hirth & Alex Reyhan from HirthGroup played a pivotal role in securing this transaction.
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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
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93