Marcus & Millichap Sells Mid City Development Site For $1.9M
1310 South Gramercy Place, Los Angeles, California 90019, United States
$1,900,000
$233/SF
Building Size
8,124 SF
Asset Type
Development Site
Closing
Jun 7, 2022
AI
A development site located at 1310 S. Gramercy Pl. in Mid City has been sold for $1,900,000. The property spans a lot size of 13,172 square feet, with a price per square foot of $144. The building to be constructed on the site will have a total gross floor area of 8,124 square feet, resulting in a price per buildable square foot of $233.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $1,900,000
- Lot Size: 13,172 square feet
- Price per Lot Square Foot: $144
- Gross Floor Area: 8,124 square feet
- Price per Buildable Square Foot: $233
The sale of this development site was brokered by Floyd Shaheen from Marcus & Millichap.
Players
Los Angeles Development Site Market Snapshot
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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93