Updated Dec 20, 2023
LevCre Inc. Acquires Development Site In South Los Angeles For $3M
1219 West Vernon Avenue, Los Angeles, California 90037, United States
$3,000,000
$919/SF
Building Size
3,264 SF
Asset Type
Development Site
Closing
Jun 23, 2022
About this deal
AI
A development site located at 1219-1231 W. Vernon Ave. in South Los Angeles was recently sold for $3,000,000. The property spans a lot size of 15,410 square feet and offers a building size of 3,264 square feet. This transaction represents a price per square foot of $195 and a price per buildable square foot of $919. Floyd Shaheen of Marcus & Millichap represented the seller, while Abe Kahen of LevCre Inc. acted as the buyer's representative in the deal.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $3,000,000
- Lot Size: 15,410 SF
- Building Size: 3,264 SF
- Price per Square Foot: $195
- Price per Buildable Square Foot: $919
- Seller's Representative: Floyd Shaheen - Marcus & Millichap
- Buyer's Representative: Abe Kahen - LevCre Inc.
This deal was facilitated by Floyd Shaheen, representing Marcus & Millichap, as the seller's representative. On the other hand, Abe Kahen from LevCre Inc. acted as the buyer's representative. The transaction took place on June 24, 2022. The property is located in the market of South Los Angeles.
On the Map
$3,000,000
$919/SF
Development Site
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Los Angeles Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93