Fred Afari And Michael Librush Acquire Development Site In Marina Del Rey For $5.2M
SOLD
$5,200,000
California
See Similar DealsDevelopment Site13,316 SF
Sold 10/21/2025
SOLD
Fred Afari And Michael Librush Acquire Development Site In Marina Del Rey For $5.2M
13474 Washington Boulevard
See Similar DealsDevelopment Site13,316 SF
Sold 10/21/2025
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$390
Total Square Footage:13,316 SF
Transaction Type:Sale
This development site, located at 13474 Washington Boulevard in Marina del Rey, has a sale price of $5,200,000. The property features a total square footage of 13,316, translating to a price per square foot of $390.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,200,000
- Buyer: Fred Afari & Michael Librush
- Seller: Thomas D Fitzpatrick
- Broker: Laura Alice Scaturro - Eve Capital
Notably, the site is set to undergo a transformative mixed-use development that will include 82 studio, one-, and two-bedroom apartments situated above ground-floor commercial space, alongside rooftop amenities and parking for 60 vehicles.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
Is there something missing? Send suggestions