Updated Dec 4, 2024
Ali Fallahassady Acquires Development Site In Pacoima For $2.4 Million From Niki Nechita
12342 Osborne Place
$2,400,000
Building Size
—
Asset Type
Development Site
Closing
Aug 6, 2024
About this deal
AI
12342 Osborne Place is a development site located in the Pacoima market, consisting of 0.99 acres of raw land. The property is situated in a Qualified Opportunity Zone and is zoned (Q)RD1.5-1-CUGU & Tier 1 TOC, with a sale price of $2,400,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,400,000
- Buyer: Ali Fallahassady
- Seller: Niki Nechita
- Brokers: Filip Niculete, Glen Scher & Andy Kawatra - Marcus & Millichap
This deal showcases the involvement of experienced brokers from Marcus & Millichap, who facilitated the transaction between Ali Fallahassady and Niki Nechita, helping to navigate the complexities of a development site acquisition within a growth-oriented market.
On the Map
$2,400,000
Development Site
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Pacoima Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93