LevCre Inc. Acquires Development Site In South Los Angeles For $3M

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.